Flashcards

Rafael Joos
Flashcards 7 Flashcards
Students 2 Students
Sprache English
Level University
Created / Updated 28.06.2010 / 18.08.2016
Licencing No Copyright (CC0)
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0 Exact answers 7 Text answers 0 Multiple-choice answers
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What is accounting?

It's an information system that identifies, records and communicates the economic events of an organization to interested users

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What is meant by analysis and interpretation?

Explaining the uses, meaning and limitations of reported data

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Who uses accounting information?

Internal and external users

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Identify specific internal and external users?

Internal: marketing managers, production supervisors, finance directors and company officers

External: investors, creditors, taxing authorities, regulatory agencies, customers, labor unions and economic planners

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To whom are the origins of accounting generally attributed?

Luca Pacioli

"Summa de Arithmetica Geometrica, Proportione et Proportionalite"

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Difference between bookkeeping and accounting?

-Bookkeeping only involves recording economic events

-Accounting: identifying, recording and communicating

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How can you use accounting knowledge?

We can use it in general management, marketing, finance, real estate