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Accounting is an art and also a science discuss?
Accountants using theories and methodologies of the discipline making it a science. They are also creative and think critically, making it an art.
What are the Needs for accounting standards?
The term standard denotes a discipline, which provides both guidelines and yardsticks for evaluation. As guidelines, accounting standard provides uniform practices and common techniques of accounting. As a general rule, accounting standards are applicable to all corporate enterprises. They are made operative from a date specified in the standard. Accounting is the art of recording transactions in the best manner possible, so as to enable the reader to arrive at judgments/come to conclusions, and in this regard it is utmost necessary that there are set guidelines. These guidelines are generally called accounting policies. The intricacies of accounting policies permitted Companies to alter their accounting principles for their benefit. This made it impossible to make comparisons. In order to avoid the above and to have a harmonised accounting principle, Standards needed to be set by recognised accounting bodies. This paved the way for Accounting Standards to come into existence.
How you can explain accounting is an information system?
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.
What are the subfields of accounting?
1. Financial Accounting 2. Cost Accounting 3. Management Accounting 4. Social Accounting 5. Human Resource Accounting 6. National Accounting
What are the different fields of accountung?
1- Cost Accounting 2 - Financial Accounting 3 - Management Accounting
How far back does accounting date in the US?
With the establishment of the first English colonies in America, accounting, or bookkeeping, as the discipline was referred to then, quickly assumed an important role in the development of American commerce.
What is difference between accounting concept and accounting principles and convention?
Accounting concepts are essentially theories. Accounting principles are measures and processes that have proven to be successful when used. Conventions are beliefs within the discipline that help make things efficient.
What is the object and subject of business studies?
Business studies aim to teach students methodologies in the discipline. These studies focus on management, accounting, finance, and project management.
Accounting is an art and also a science discuss?
Accountants using theories and methodologies of the discipline making it a science. They are also creative and think critically, making it an art.
How does the field organizational behavior differ from the other business discipline such as accounting finance and marketing?
Organizational behavior focuses on studying human behavior within organizations and how it impacts work performance, while accounting, finance, and marketing are more focused on managing financial resources, analyzing data, and promoting products or services. Organizational behavior involves understanding topics such as leadership, teamwork, and motivation, while the other disciplines deal with numbers, financial statements, and customer relationships.
What are the Needs for accounting standards?
The term standard denotes a discipline, which provides both guidelines and yardsticks for evaluation. As guidelines, accounting standard provides uniform practices and common techniques of accounting. As a general rule, accounting standards are applicable to all corporate enterprises. They are made operative from a date specified in the standard. Accounting is the art of recording transactions in the best manner possible, so as to enable the reader to arrive at judgments/come to conclusions, and in this regard it is utmost necessary that there are set guidelines. These guidelines are generally called accounting policies. The intricacies of accounting policies permitted Companies to alter their accounting principles for their benefit. This made it impossible to make comparisons. In order to avoid the above and to have a harmonised accounting principle, Standards needed to be set by recognised accounting bodies. This paved the way for Accounting Standards to come into existence.
How you can explain accounting is an information system?
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.
Define 'Accounting' Distinguish between Financial Accounting and Management Accounting?
Define 'Accounting' Distinguish between Financial Accounting and Management Accounting
Use the word discipline in a sentence?
Children need discipline or they will run amok.There is a lot of discipline in the army.We will discipline you if you do not follow the rules on Answers.com.
What are the subfields of accounting?
1. Financial Accounting 2. Cost Accounting 3. Management Accounting 4. Social Accounting 5. Human Resource Accounting 6. National Accounting
Is it right to say 'stringent about discipline' or should it be 'stringent with discipline'?
stringent with discipline
What are the different fields of accountung?
1- Cost Accounting 2 - Financial Accounting 3 - Management Accounting
