1. Accounting Basics: Introduction
  2. Accounting Basics: History Of Accounting
  3. Accounting Basics: Branches Of Accounting
  4. Accounting Basics: The Basics
  5. Accounting Basics: The Accounting Process
  6. Accounting Basics: Financial Statements
  7. Accounting Basics: Financial Reporting

Accounting plays a vital role in facilitating all forms of economic activity in the private, public and nonprofit sectors. Business owners and managers, in both large and small companies, use accounting information to gauge how their business is doing. Non-profits track the cash flow and income needed to fuel their organization’s mission.

Government entities use accounting information operationally as well as to track tax revenues that may be due to them from other governmental entities and taxpayers.

In short, accounting is the language of business. Virtually nothing done in the business world doesn’t involve accounting information of some sort.

The American Accounting Association offers this definition: "The process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information." In other words, accounting is the basis of all decision-making.


Accounting Basics: History Of Accounting
Related Articles
  1. Investing

    A Day In The Life Of An Accountant

    An analysis of the accountant profession, who becomes an accountant, what they do, where they work, and salary ranges.
  2. Investing

    Navigating Government And Nonprofit Financial Statements

    Learn how to trace where your tax dollars and charitable donations are going.
  3. Insights

    The Pros and Cons of Being a Nonprofit

    Evaluating the tradeoffs organizations face when choosing between becoming a tax-exempt nonprofit or for-profit business with innovative ease.
  4. Financial Advisor

    Where to Find Non-Profit Finance Jobs

    The non-profit sector offers a stable selection of jobs for those who seek other types of fulfillment from their jobs than just purely financial.
  5. Insights

    A Look At Accounting Careers

    More than just crunching numbers, this career blends detective work with trouble shooting.
  6. Investing

    What Is A Trading Account?

    A trading account enables an investor to buy and sell securities.
  7. Financial Advisor

    Financial Accounting

    Financial accounting is the process of gathering, recording, summarizing and reporting financial data relating to a business. The ultimate goal is to accurately report the financial picture and ...
  8. Personal Finance

    What Management Accountants Do

    If you like keeping track of a company's income and expenses but also want to hold a position with significant responsibility and authority, management accounting could be the job for you.
Frequently Asked Questions
  1. How did the ABX index behave during the 2008 subprime mortgage crisis?

    Read about the disastrous performance of the various ABX indexes in the subprime mortgage crisis of 2008 during the middle ...
  2. How did moral hazard contribute to the 2008 financial crisis?

    Learn about moral hazard, how it can affect outcomes and how it contributed to the conditions that led to the 2008 financial ...
  3. Which mutual funds made money in 2008?

    Read about the only mutual fund that turned a profit in 2008. Learn about risk-averse investment strategies and the financial ...
  4. Were Collateralized Debt Obligations (CDO) Responsible for the 2008 Financial Crisis?

    Collateralized debt obligations are exotic financial instruments that can be difficult to understand, Learn the role they ...
Trading Center