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What is accounting? Accounting is an information system
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| Page | 2/29 | | Date | 27.06.2021 | | Size | 1.06 Mb. | | #56969 |
| Accounting and finance for managers MBA CH1 Accounting and finance for managers MBA CH1What is accounting? that provides quantitative, financial information to stakeholders about the business so that they can make business/economic decisions. The process of identifying, measuring, recording and communicating economic information to permit informed judgment and decisions by users of the information. Accounting: Definition . Accounting: Definition Identifying: Identify those events that are considered as an evidence of economic activity relevant to the Business Recording: Keeping of a chronological diary of measured events in an orderly and systematic manner Communicating: Communicate through the preparation and distribution of accounting reports to the interested parties.
Accounting
information
The accounting process
Decision makers
Economic activities
Actions (decisions)
Accounting “links” decision makers with economic activities ¾ and with the results of their decisions.
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