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. Personal Finance

    Accountant: Job Description & Average Salary

    Discover what the job description of an accountant entails, along with education and training, salary and skills necessary for success.
  3. Investing

    Navigating Government And Nonprofit Financial Statements

    Learn how to trace where your tax dollars and charitable donations are going.
  4. Managing Wealth

    Accounting Research Manager: Job Description & Average Salary

    Learn about the average salary of an accounting research manager as well as the necessary skills, experience and education, and licenses to hold this position.
  5. 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.
  6. Insights

    A Look At Accounting Careers

    More than just crunching numbers, this career blends detective work with trouble shooting.
  7. Small Business

    Best Checking Accounts For Small Businesses

    What you need to know to choose the best checking account for your small business – and where to look.
  8. 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 ...
Frequently Asked Questions
  1. Who Benefits From Loaning Shares in a Short Sale?

    Does loaning shares in a short sale transaction derive any benefit other than interest on the loan?
  2. What does it mean when a stock trades on the Pink Sheets or the OTCBB?

    The stocks of well-known companies trade on major exchanges but companies must be listed prior to actually trading on an ...
  3. Who are Ford's (F) main suppliers?

    Explore the history and current operations of Ford Motor Co. and discover some of its primary global parts suppliers.
  4. Who are Toyota's (TM) main suppliers?

    Learn which companies make up Toyota's supply chain. The automotive giant provides awards to its largest and most efficient ...
Trading Center