Basics of accounting concepts explained by experts

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BASICS OF ACCOUNTING CONCEPTS EXPLAINED BY EXPERTS
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IMPORTANT OF ASSIGNMENT WRITING

• Accounting is regarded as the business language
  that is used by all business companies. It is a
  means by which business parties transfer their
  data to different users.
• According to AICPA (American Institute of
  Certified Public Accountants), accounting is a
  component of recording, classifying, and
  conclusion during a specific manner, and terms of
  cash, transactions, and events that are within a
  part of financial character, and interpret the
  outcomes of transactions.

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PURPOSE OF ACCOUNTING

• Accounting is a service activity that functions
  to offer quantitative information, primarily
  financial, about economic entities that are
  intended to be useful in creating economic
  decisions in giving reasoned options between
  alternative courses of action.
• The process of measuring, identifying, and
  communicating economic information is to permit
  informed judgment and decision by the users.

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WHAT ARE THE BRANCHES OF ACCOUNTING AND PRACTICE
AREAS?

• Management accounting
• Financial accounting
• Cost accounting
• Auditing
• Tax accounting
• Accounting information systems
• Fiduciary
• Forensic accounting
• Students who need assistance, they can take
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