What Is Accounting, and Who Uses Accounting Information?
Objective 15-1 Explain the role of accountants and distinguish among the kinds of work done by public accountants, private accountants, management accountants, and forensic accountants.
Accounting is a comprehensive system for collecting, analyzing, and communicating financial information to a firm’s owners and employees, to the public, and to various regulatory agencies. To perform these functions, accountants keep records of taxes paid, income received, and expenses incurred, a process historically called bookkeeping, and they assess the effects of these transactions on business activities. By sorting and analyzing such transactions, accountants can determine how well a business is ...
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