Accounting
Accounting: process of systematically collecting, analyzing, and reporting financial information.Private accountant: employed by a organization Private Accountants provide the following services: General accounting: recording business transactions and preparing financial statements Budgeting: Develop budgets for sales and operating expenses. Cost Accounting: Determining the cost of producing specific products or services. Tax Accounting: Planning tax strategy and preparing tax returns for the firm. Public Accountant: an accountant whose services may be hired on a fee basis by individuals or firms. Chartered accountant (CA) or Certified general accountant (CGA), Certified management accountant (CMA): an individual who has met requirements for accounting education and experience and has passed a set of accounting examinations from their respective professional organization. Assets: the resources that the firm owns Liabilities: firms debts and obligation- what it owes to others Owners Equity: the difference between a firms assets and its liabilities Accounting Equation: the basis for the accounting process: assets = liabilities + owners’ equity
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Some common words found in the essay are:
Net Sales, Balance Sheet, Accounting Equation, CGA Certified, Current Ratio, A/R Debts-to-assets, Income Statement, , Public Accountant, Private Accountants, accounting period, owners equity, current assets, ratio =, current liabilities, = net, net sales, net income, = net income, cost sold, income taxes, net income taxes, = total liabilities, firms assets liabilities, ratio = total,
Approximate Word count = 867
Approximate Pages = 3 (250 words per page double spaced)
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