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t. e. Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management ...
- Accounting Standards
Accounting standards prescribe in considerable detail what...
- Cost Accounting
Cost accounting is defined by the Institute of Management...
- Economic Entity
In accounting, an economic entity is one of the assumptions...
- Double-Entry Bookkeeping
Double-entry bookkeeping, also known as double-entry...
- Management Accounting
Management accounting is an applied discipline used in...
- Financial Accounting
Financial accounting is a branch of accounting concerned...
- Accounting Information System
An accounting information system (AIS) is a system of...
- History of Accounting
The history of accounting or accountancy can be traced to...
- Accounting Standards
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Financial accounting is a branch of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. This involves the preparation of financial statements available for public use.
The history of accounting or accountancy can be traced to ancient civilizations. [1] [2] [3] The early development of accounting dates to ancient Mesopotamia, and is closely related to developments in writing, counting and money [1] [4] [5] and early auditing systems by the ancient Egyptians and Babylonians. [2]
Accounting or accountancy is the job of sharing financial information about a business to managers and shareholders or owners. Accounting is often called the "language of business". Accountants are people who do accounting, and also carry out the auditing or checking of a company's books and records.
Dec 18, 2023 · Learn what accounting is, its history, types, and careers. Investopedia provides a comprehensive overview of accounting concepts, principles, and standards with examples and references.
- Jason Fernando
- 2 min
Generally Accepted Accounting Principles (GAAP or U.S. GAAP or GAAP (USA), pronounced like "gap") is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC) and is the default accounting standard used by companies based in the United States.
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Management accounting is an applied discipline used in various industries. The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented.
