Accounting is the measurement , translation , or provision of assurance about information that helps managers , investors , tax authorities and other decision makers to make resource allocation decisions within the Company's organization , and government agencies . Accounting is the art of measuring , communicating and interpreting financial activity . Broadly, accounting is also known as the " language of business " . Accounting aims to prepare an accurate financial statements that can be used by managers , policy makers , and other interested parties , such as shareholders , creditors , or owners . Daily record keeping involved in this process is known as bookkeeping
Accounting functions
Each main accounting system will carry out five main functions , namely
a. Collecting and storing data from all of the activities and transactions of the company
b . Process the data into useful information management.
c . Manage existing data into groups that have been set by the company .
d . Controlling control enough data so that the assets of an organization or enterprise awake .
As long as there will be people in this world , there will be a business , and as long as there is business , there will be accounting . Accounting is involved in almost everything in our lives whether we know it or not , and the importance can sometimes be forgotten . Everything needs accounting . From the baseball cap you wear , to the food you eat , to the company where you work , or even the music you hear on the radio , and the required accounting involved in all steps of production or operation .
An accountant measures , aggregate and report financial information necessary for the sake of organizational decision making by managers , owners , investors , government agencies and other users . From the previous statement , we can see indications that show how important accounting career . Everything needs accounting . Are you a doctor , or a regular office worker , you still need to play with the numbers and take into account the cost of the things that you use or used by others . Timely and accurate information about the operation is very important for success in the days of the recent rapidly changing business environment , and the accountant is responsible for critical business functions largely though indirectly affect our careers and daily life .
In a career perspective every job must carefully manage their money , cash in and out . Work as an independent contractor must analyze how much the work will cost them and how much they would charge for the job . They have to keep track of all expenses and estimates that are not below cost and to charge the appropriate price . In its simplest form , this is accounting . If not accurately tracked and predicted , business profits and the contractor will not end up out of business . The same goes for big business , if the company or the company does not accurately handle cash flow operations , will not last long . More and more these days employees such as secretaries and receptionists are taught basic accounting practices to help aid the accountant and to maintain proper bookkeeping . In this way employees can lower the importance of a set of items of business and leave the important transactions higher for the accountant to analyze and interpret for decision -making purposes .
In one's life , can we say accounting will promote a better lifestyle ? I say , definitely yes . Management and control of personal finances is an important subject of the day is for people . In the world we live in today, almost no one who lives without a single debt in their lives . Debt from credit cards , car payments , mortgages , and so on , one can find themselves trapped in economic hardship in some cases destroy life and has been a wake-up call for many people . It would be nice if we knew exactly where increases and decreases are coming from and going , respectively , whatever level of detail you need ? Of course it will . Many of us spend without thinking about the impact of the action . It is important to know the proportion spent on basic needs and luxuries , and how to have the right balance throughout our spending . Life is not as easy as driving down the road with traffic lights and signs along the way , but we still need financial signals in our lives whether we are in a comfortable phase or the phase of the dangers that need help . Accounting can help people detect these dangers . If not much , at least it can do is make sure that your debt is under control and manageable .
Handling all accounting calculations can be tedious and distracting but can make all the difference was financial . You can strategically plan ahead to save for your retirement , your child's college fund , or luxury or two days later on the road . We can see the importance of this concept by taking into account the current companies that operate strictly financial advising . It can be concluded that in the era that we live in today, Families , and retirees depend on the credibility of financial reporting and for their future livelihood . With some financial stress in the lives of many people
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