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Brief Accounting Facts for an easy essay |
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• Accounting is an information system that identifies, records, and communicates the economic events of an organization. ... • Financial information is communicated through accounting reports, the most common of which are called financial statements. ... • Summary: Accounting should consider the needs of the users of financial information. ... • Internal users of accounting information are mangers who plan, organize, and run a business. (marketing managers, production supervisors, finance directors, and company officers) • External users of accounting info. ... • Accounting involves the entire process of identifying, recording, and communicating economic events. • Financial accounting is the field of accounting that provides economic and financial information for investors, creditors, and external users. |
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