I would like to know what the limitations of business and accounting data is? I would like to know Accounting as a language of business suffers from which serious limitations?
The parties that are interested by accounting data of business are Accountants and auditors.
Limitations of Electronic Data Processing
utilize accounting data as .... basis for making business decisions ... Accounting is used to help corporations make economically useful decisions. ... that support the business functions of accounting, financing, marketing . ... The two that we deal with decisions made regarding accounting practices and . ...
accounting
Users of accounting data include shareholders, potential investors and suppliers. All of these shareholders want to make sure that the business is profitable before they do business with the company.
The parties that are interested by accounting data of business are Accountants and auditors.
Limitations of Electronic Data Processing
utilize accounting data as .... basis for making business decisions ... Accounting is used to help corporations make economically useful decisions. ... that support the business functions of accounting, financing, marketing . ... The two that we deal with decisions made regarding accounting practices and . ...
accounting
Users of accounting data include shareholders, potential investors and suppliers. All of these shareholders want to make sure that the business is profitable before they do business with the company.
Accounting is an information system for measuring, processing and communicating information that is useful in making economic decision. Every business is conducted to make profit. Accounting knowledge is there to assist the business man to assess whether the business is making profit or loss. In accounting brings discipline on how to source money, how to spend and how much to save. Accounting ensures consistency in the treatment of various transactions. Accounting involves gathering of financial data, recording classifying, summarizing and communicate the results to the owners of the business, or to others allowed to receive this information. Accounting should not be confused with Book keeping as Book keeping is the part of accounting concerned with recording of financial data. Book keeping is the process of recording data relating to accounting transactions in the books of accounts.
Partially accounting fall under the business primary occupation also we can say accounting is "the language of business". Accounting is an essential business function that involves recording transactions, summarizing data, and then reporting and analyzing the results on a periodic basis.
Accounting provides the business with data such as debt, growth of the company and the effect of added investment. Accounting data can allow the decision makers in a company to make decisions that will not endanger the financial direction of the company.
Accounting is an information science. It is used in collecting, classifying, as well as manipulating financial data for individuals and organizations.
show the various stages in data warehousing and business analytics
accounting data is used to determind a company's financial status, and also to execute systematic reports of financial transactions
Accounting is a way to provide a systematic data about any company's statements and expenses. due to its consecutive and systematic entries it provides a relevant data. Internal users need to understand accounting data in order to measure the economic performance of businesses and to make business decisions