What is the importance of accounting?

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What is the importance of accounting? What are the forms of a business entity? In accounting systems & financial statements, what are the examples of source documents?

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ACTG 211 Midterm 1 Study Guide ____________________________________________________________________________    Chapter 1: Financial Accounting        Importance of Accounting           o   Accounting is a system that identifies, records, & communicates                information that is relevant, reliable, & comparable about an organization’s                business activities.       Generally Accepted Accounting Principles           o   Financial accounting is governed by concepts & rules                      Relevant info  affects decisions of users                     Reliable info  trusted by users                     Comparable info  used in comparisons across years & companies        Setting Accounting Principles           o

What is the importance of accounting?

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Introduction to Accounting I ACTG 211 - Michael Tomcal - ACTG 211

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What is the importance of accounting?

What is the importance of accounting?

Other study guides from Introduction to Accounting I ACTG 211 - Michael Tomcal - ACTG 211

Others also asked

Discussion and review:

Other study guides from
Introduction to Accounting I ACTG 211 - Michael Tomcal - ACTG 211