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Activities Involved in Accounting are :
1) Identifying
2) Measuring
3) Recording
4) Classifying
5) Communicating
6) Summarizing
7) Analyzing
8) Interpreting
9) Reporting
10) Decision Making
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What are the subsystem of accounting information system?
Subsystem of Accounting Information Systems (AIS) are:1.The Revenue Circleincludes sales and revenue in the form of cash.2. The Expenditure Cyclepurchasing activities and payment with cash.3. The Human Resources / payroll cycleincludes the activities of contract and hire employees4. The production cyclethe process of changing raw materials into finished material5. The financing cycleincludes activities to get data from investors, as well as their payments again.
What are the activities of the finance department?
what are the main activities involved in the finance department
What is Managerial accounting?
Managerial accounting is different to financial accounting because it is the one called cost accounting. It is the process in which it is needed to identify, measure, analyze, interpret and communicate with information to pursue the goals of an organization.
Explain what accounting is?
In simple terms Accounting is the process(technique) of identifying, recording, summarizing, analysing and interpreting transactions & events.
What are the specialized fields of accounting?
Specialised fields of accounting is Financial accounting , cost accounting & management accounting. The classification is purely based on what kind of accounting activities are conducted. E.g; in the case of financial accounting historical business transactions are recorded in the books of accounts of an undertaking. In some situation possible certain due transactions are entered as due entry. Costs considered are historical costs of various transactions In the case of cost accounting cost calculations are done keeping historical & estimated costs. Cost accounting & the process calculating costs vary according to nature of business manufacturing activity or operating activities. costs are classified for costing & estimation which is essential in costing . Accounting function for costs can be historical /estimated or both depending on the policy. Another field of management accounting encompasses both cost & financial accounting data /books to generate management reports (purely internal confidential reports). financial auditor verifies the truthfulness of financial records. financial accounting data is publicized in the form of annual financial reports .costing & management accounting data are generated for internal purposes & they are also subject to cost & management audit. Contributor's ID y_s_ganesh@yahoo.com
3 important activities in accounting process?
real accounting, nominal accounting,personal accounting
What is the activities of the asset accounting sub-process?
Which of the following is an activity of the Asset Accounting sub-process
What are three basic activities of accounting?
What are the Basic Activities of accounting?
Definition of accounting according to PICPA?
accounting is the process of counting starting from the letter A.
Human activities such as contruction incresesnthis process?
no movement of sediment is involved
How we can differentiate traditional costing from backflush costing?
in backflush accounting the inveniery is not hold.work in process is not involved
What are the three basic activities of accounting?
What are the Basic Activities of accounting?
What term used to be used interchangeably with accounting?
Prior to the late 1800s, the terms bookkeeping and accounting were often used interchangeably because the recording/posting process was central to both activities
How often is the recording process in accounting?
How often is the recording process in accounting?
What is involved in consolidation accounting?
The principle involved in consolidation accounting is that companies consolidate their financial statements that factor the holding company's subsidiaries into its aggregated accounting figure.
Which accounting principle directs the depreciation process?
Which accounting principle directs the depreciation process?
Which activities involved in gold collar worker?
Involved in quinary activities
