Linggo, Oktubre 16, 2011

WHAT IS ACCOUNTING?

accounting



--->The systematic recording, reporting, and analysis of financial transactions of a business. The person in charge of accounting is known as an accountant, and this individual is typically required to follow a set of rules and regulations, such as the Generally Accepted Accounting Principles. Accounting allows a company to analyze the financial performance of the business, and look at statistics such as net profit.
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accrual basis accounting - The most commonly used accounting method, which reports income when earned and expenses when incurred, as opposed to cash basis...

administrative systems - Internal office and accounting functions.

asset - Any item of economic value owned by an individual or corporation, especially that which could be converted to cash. Examples are...



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