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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, and regulators. [3]
The convergence of accounting standards refers to the goal of establishing a single set of accounting standards that will be used internationally. [1] Convergence in some form has been taking place for several decades, [ 2 ] and efforts today include projects that aim to reduce the differences between accounting standards.
Financial accounting is a branch of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. [1]
Accounting concentrates on the past and keeping accurate records, while finance and financial accounting look ahead and serve a strategic function. Tried-and-true methods of financial accounting
The following outline is provided as an overview of and topical guide to accounting: . Accounting – measurement, statement or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and public agencies.
Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. Some important elements that accounting standards cover include identifying the exact entity which is reporting, discussing any "going concern" questions, specifying ...
Another data entry option is to transfer spreadsheet data to accounting systems or vice versa. There are dozens of data entry platforms that offer paid positions, such as AccuTran Global ...
Macy's said Wednesday that it has tightened internal financial accounting measures after completing a probe of a rogue employee who hid $151 million in delivery expenses over a span of nearly ...