Accounting- Definition
Accounting is an information system that processes the financial information and measures business activities and provides summarized information to the owner’s, investors, managers and other decision makers.
According to American Accounting Association (AAA), It is the process of identifying, measuring, communicating economic information to permit informed judgements and decisions by the users of information.
Accounting is considered as a language of business. It literally talks with you through the activities of the business.
Any business runs with an objective to earn and maximize profits. It is possible by taking correct and timely decisions by business owners and managers.
Owners and Managers make decisions on the basis of Financial information provided by Accounts Departments.
If you have any queries please share in the comment section below. I will be more than happy to assist you.
Richard Dsouza says
January 9, 2018 at 10:07 amDear Sir,
I am starting a small restaurant and would request for complete accounting template that is automated so I can Input data on a day to day basis and generate monthly reports.
Please let me know if you have something like this.
Best regards.
Richard
Fahim Lashkaria says
January 9, 2018 at 12:30 pmDear Richard, There have been many templates on our website, downloading and using is totally free. We don’t have any complete accounting system ready in excel. If you wish, we can customize it for you and it is chargeable. For more information contact us at info@exceldatapro.com