The Purpose of Accounting

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 The Purpose of Accounting Essay

Period 1 Specific Project

ACC310-1301B-03 Instructor: Lataunia Green

Phase 1 Individual Project

ACC310-1301B-03 Instructor: Lataunia Green

Feb 25, 2013

Authored by: Tim Smith

February twenty-five, 2013

Written by: Bernard Jones

Stand of Material

The purpose of accounting3

The objective of accounting3

Important to the company4

Accountant's integrity5

Technology impact on the accounting profession5



Accounting intended for Non-Accounting Dominant

The purpose of accounting

Is to collect and report financial proof about the money flow, performance, and budget of that business. " When this information has become entered into the accounting records, it is then made into economic statement, including the following ■Income statement: the outcomes of the procedure during a great accounting period. It displays the revenue and bills, and the earnings or damage for that accounting period. ■Balance sheet: presents information about an individual's assets, liabilities, and shareholders' equity, method used to get effects: Total resources = Total liabilities & Equity ■Statement of money flows: the product range of actions that generate and work with cash. ■Statement of retained earnings: settles changes during the accounting reporting period. The general computation structure from the statement can be: Beginning stored earnings + Net income -- Dividends sama dengan Ending stored earnings” (CPE, 2013) The purpose of accounting

To keep systematic records: a great organized record of financial deals. To protect business properties: helps to protect a business real estate from unwarranted use.

To find out the functional profit or perhaps loss: determines the net income that is attained or damage suffered in business accounts. To ascertain the financial position of business: The net income and reduction account gives the amount of profit or perhaps loss of the business throughout a particular period. To help rational decision...

Bibliography: Small, G. (2009). Retrieved 2013, from

CPE, A. (2013). Accounting Tools. Recovered from

Education, M. -H. H. (2008). Honesty of Accounting Information. Retrieved 2013, coming from