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Which part of the accounting cycle provides information to help a business decide whether to expand its operations?
Wiki User
∙ 11y ago
financial statment
Wiki User
∙ 11y ago
Anonymous
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What are roles of accounting in business?
the simplest answer to this question is that accounting provides information for managers to use in operating the business.
Characteristics of accounting?
Accounting provides businesses with useful and relevant information. The more accurate the information, the more the business can base business decisions on the information.
Basic function of accounting?
to keep a set of books for business with an information system that provides reports to users about the economic activities and condition of a business.
How to Compare and contrast financial management wit management accounting and financial accounting?
Management accounting is a field of accounting that analyzes and provides cost information to the internal management for the purposes of planning, controlling and decision making.Management accounting refers to accounting information developed for managers within an organization. CIMA (Chartered Institute of Management Accountants) defines Management accounting as "Management Accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of information that used by management to plan, evaluate, and control within an entity and to assure appropriate use of an accountability for its resources". This is the phase of accounting concerned with providing information to managers for use in planning and controlling operations and in decision making.Managerial accounting is concerned with providing information to managers i.e. people inside an organization who direct and control its operations. In contrast, financial accounting is concerned with providing information to stockholders, creditors, and others who are outside an organization. Managerial accounting provides the essential data with which organizations are actually run. Financial accounting provides the scorecard by which a company's past performance is judged.Because it is manager oriented, any study of managerial accounting must be preceded by some understanding of what managers do, the information managers need, and the general business environment.
Similarities between cost, financial and management accounting?
A chart of accounts provides a listing
What are roles of accounting in business?
the simplest answer to this question is that accounting provides information for managers to use in operating the business.
Characteristics of accounting?
Accounting provides businesses with useful and relevant information. The more accurate the information, the more the business can base business decisions on the information.
What are the differences between accounting system and accounting information system?
accounting is a interesting field and it is a business transaction and preparation financial statements and accounting information system it is a system of information provides.because of information provides the management can control a business. writer, sakibrubel
Uses of accounting information by accounting users?
It assists in the control of business transactions also it provides information on persons or objects of an entity
Basic function of accounting?
to keep a set of books for business with an information system that provides reports to users about the economic activities and condition of a business.
How to Compare and contrast financial management wit management accounting and financial accounting?
Management accounting is a field of accounting that analyzes and provides cost information to the internal management for the purposes of planning, controlling and decision making.Management accounting refers to accounting information developed for managers within an organization. CIMA (Chartered Institute of Management Accountants) defines Management accounting as "Management Accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of information that used by management to plan, evaluate, and control within an entity and to assure appropriate use of an accountability for its resources". This is the phase of accounting concerned with providing information to managers for use in planning and controlling operations and in decision making.Managerial accounting is concerned with providing information to managers i.e. people inside an organization who direct and control its operations. In contrast, financial accounting is concerned with providing information to stockholders, creditors, and others who are outside an organization. Managerial accounting provides the essential data with which organizations are actually run. Financial accounting provides the scorecard by which a company's past performance is judged.Because it is manager oriented, any study of managerial accounting must be preceded by some understanding of what managers do, the information managers need, and the general business environment.
Similarities between cost, financial and management accounting?
A chart of accounts provides a listing
Accounting is a service function?
within an organization that involves recording, analyzing, and reporting financial transactions and information. It helps in decision-making, monitoring financial performance, and ensuring compliance with regulations. Accounting provides valuable information for management, investors, and other stakeholders to make informed decisions and assess the financial health of the business.
Where can one download the MYOB accounting software?
MYOB company stands for "Mind Your Own Business" and it provides accounting and tax services to business. One can download the accounting software from the MYOB website.
The area of accounting that provides managers of an organization with information they need to make decisions is called?
managerial accounting
Define management accounting system?
The definition of management accounting system is a system that was designed for a company that provides the information that is necessary for the company to make projections and decisions. It provides accurate and current information.
Features of agood computerized accounting system?
Salient Features of Computerized accounting1. Fast, Powerful, Simple and IntegratedComputerized accounting is designed to automate and integrate all the business operations, such as sales, finance, purchase, inventory and manufacturing. With Computerized accounting, accurate, up-to-date business information is literally at the fingertips. The Computerized accounting combine with enhanced MIS, Multi-lingual and Data organization capabilities to help the company simplify all the business processes easily and cost-effectively.2. Complete VisibilityComputerized accountings giving the company sufficient time to plan, increase the customer base, and enhance customer satisfaction. With Computerized accounting the company will have greater visibility into the day-to-day business operations and access to vital information.3. Enhanced User ExperienceComputerized accounting allows the company to enter data in a variety of ways which makes work a pleasure. Adapting to the specific business needs is possible.4. Accuracy, SpeedComputerized accounting has User-definable templates which provides fast, accurate data entry of the transactions; thereafter all documents and reports can be generated automatically, at the press of a button.5. ScalabilityComputerized accounting adapts to the current and future needs of the business, irrespective of its size or style.6. PowerComputerized accounting has the ability to handle huge volumes of transactions without compromising on speed or efficiency.7. For Improved Business PerformanceComputerized accounting is a highly integrated application that transforms the business processes with its performance enhancing features which encompass accounting, inventory, reporting and statutory processes. This helps the company access information faster, and takes quicker decisions. Computerized accounting also guarantees real-time optimization of operations and enhanced communication.7. Quick Decision MakingGenerates real-time, comprehensive MIS reports and ensures access to complete and critical information, instantly.8. Complete ReliabilityComputerized accounting makes sure that the critical financial information is accurate, controlled and safe from data corruption.
