The Basics of Accounting in a Business Organization

Definition of Accounting: -

Accounting also known as accountancy is the method of measuring, processing as well as communicating all financial information pertaining to economic items. Accounting is also referred as the business language or financial reporting since it measures and conveys all sorts of economic activities of a business organization to the creditors, investors, as well as core management committee members. The accounting professionals are known as accountants.

Textbooks on Accounting: -

Some of the basic textbooks on accounting are:

• Accounting Ethics, Ronald Duska,Brenda Shay Duska, Julie Anne Ragatz, 2011.
• Accounting, Costing and Management, Riad Izhar, 2001.

Examples of Accounting: -

Examples of the accounting tasks are:

• Management accounting
• Financial accounting

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