--%>

Illustrate the general role of accounting

Briefly illustrate the general role of accounting?

E

Expert

Verified

The general role of accounting that is to assist people in making informed business decisions. All forms of accounting, comprising management accounting, are mainly concerned with collecting and analyzing financial information and then communicating this information to such making decisions.

   Related Questions in Managerial Accounting

  • Q : Define Cost Accounting Practice Cost

    Cost Accounting Practice: Any disclosed or recognized accounting process or technique that is used for the measurement of cost, assignment of cost to cost objects and assignment of cost to accounting periods.

  • Q : When does a partnership exist A) A

    A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a

  • Q : What is Incremental Cost Incremental

    Incremental Cost: The raise or reduction in total costs which would result from a decision to raise or reduce output level, to add a service or task, or to modify any part of operations. This information aids in making decisions such

  • Q : Evaluate the strategic options Identify

    Identify and evaluate the strategic options in brief?

  • Q : What are Arrears What are Arrears ? And

    What are Arrears? And what are the conditions to make Arrears?

  • Q : Capital account An account used in a

    An account used in a partnership to record an individual partner's investment in the partnership plus the indi- vidual's share of any undistributed partnership income. In a corpo- ration, the equity sections have two parts: the contributed capital and retained earning

  • Q : Define Management Accounting Give a

    Give a brief introduction of the term ‘Management Accounting’. And also write down its objectives?

  • Q : What are the steps involved in Process

    ACCOUNTING PROCESS:  The process of Accounting involves the following steps:

    Q : Number of Partners in Partnership What

    What is the maximum and minimum number of partners in each and every type of partnership? Answer: There must be at least two persons to build a Partnership. The maxi

  • Q : Main users of the accounting information

    Briefly list out the main users of the accounting information which are related to the business?