Accounting or accountancy is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. The modern field was established by the Benedikt Kotruljevic in 1458, (Italian: Benedetto Cotrugli; 1416–1469) merchant, economist, scientist, diplomat and humanist from Dubrovnik (Croatia), and Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.
Accounting can be divided into several fields including financial accounting, management accounting, external auditing, tax accounting and cost accounting. Accounting information systems are designed to support accounting functions and related activities. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.Accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial statements are usually audited by accounting firms, and are prepared in accordance with generally accepted accounting principles (GAAP). GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States and the Financial Reporting Council in the United Kingdom. As of 2012, "all major economies" have plans to converge towards or adopt the International Financial Reporting Standards (IFRS).
List of Pinterest Accounting images & Accounting pictures
List of all Pinterest Accounting images and pictures. Browse Pinterest Accounting ideas
Debit vs credit are terms used in double entry bookkeeping. They refer to entries made in accounts to reflect the financial transactions of a business. The terms are often abbreviated to Dr (Debit) and CR (Credit). #bookkeeping #accounting
Accounting Interview Questions and Answers 2019 : Most frequently asked Accounting Interview Questions and Answers 2018 for freshers and experienced are here, All the best. #accounting #interviewquestions #interview #questions #answers #mytectra #training #courses #unlockpotential
The Complete Guide to Bookkeeping for Small Business Owners
Have you been blowing off your small business bookkeeping? Check out this list of small business bookkeeping tasks and get your accounting organized. Click through to get a printable version with a bonus Annual tasks section! #smallbusiness #entrepreneur