Introduction to Accounting

Stakeholders to whom accounting information is conveyed include investors, creditors, management, and regulators.

Accounting is the processing of information about economic entities, such as businesses and corporations, and it measures the results of an organization's economic activities and conveys this information to stakeholders.

Accounting can be divided into several fields including financial accounting, management accounting, tax accounting, and cost accounting.

<p>Financial accounting focuses on the reporting of an organization's financial information to external users, such as investors, regulators, and suppliers.</p> Signup and view all the answers

<p>The most common system of bookkeeping is double-entry bookkeeping, which involves the recording of financial transactions so that summaries of the financials may be presented in financial reports.</p> Signup and view all the answers