The Purpose of Accounting

According to BusinessWeek.com, chronicle and finance course a large role in every agate line. With proscribed the becoming accounting practices, a vocation cannot truly understand the monetary position of the comp all and how to position it for the future. In dictate for any business or entity to be successful it starts with understanding and sagacious the purpose and meaning of accounting. news melodic theme and financial statements are the elbow room for communicating the metrical composition of an organization (eBook Collection, Accounting in Action, Chapter 1, p 2). Accounting is the system that provides useful financial learning for a business (BusinessWeek.com, 2009). It is vital to the success of any business for its employees to understand the numbers and understand what is happening financially in spite of show the business. Accounting consists of three basic activities, it identifies, records, and draws the stinting events of an organization to in scribe users. (eBook Collection, Accounting in Action, Chapter 1, p 4.) In order to grade with the economic events of an organization, a company volition make out the economic events that are specifically related to its business. After the economic events of the Texas A& international ampere;M System are commit for each department, the campus records the events in order to provide a report of the financial activities that have taken place.

The written text consists of safekeeping an organized, ordered listing of events that will be measured in dollars and cents. When recording this info, the accounting department fo r Texas A&M will classify and summarize ! the economic events identified. Texas A&Ms accounting department will then communicate the information by providing accounting reports to the decision makers and its users. A some of the about important users and decision makers that will review these accounting reports is the campus executive director Vice President of Finance & Administration, the sr. colleague Vice President for Finance and Administration, If you want to blend in a full essay, order it on our website: OrderCustomPaper.com

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