Business Accouting
Business Accounting
Student number: 100231152
Module code: 5AG501
Module Leader: Tapiwa Gande
Business Accounting
The systematic reporting and analysis of fanatical transactions of the business. The person in charge of accounting is known as an accountant, and this individual is typically required to follow a set of rules and regulations, such as the Generally Accepted Accounting Principles. Accounting allows a company to analyse the financial performance of the business, and look at statistics such as net profit.
In other words accounting is one of the important parts of business, which can significantly improve structure of business. For example if business is getting loose not profit it can show where business needs to save money and where business need to push money, to make more efficient work and gain profit.
Why is accounting important for business?
There are lots of reasons why accounting is important, there for accountings is a language that needs to be understood clearly by people, but more important by business owner, and especially by accountant`s. If the figures which are given in forms accountant can not see by clear picture and can not tell what is going wrong or what is going good, than business needs to employ another accountant for that organization, who actually will see clear picture of figures and who will be able to say in what direction should to go organization, that what accountant should be. One of the reason is, if accountant will do wrong calculations and after wrong calculations he will predict that they can spend more than they actually hold it might impact organization to lethal ending or bring huge loose to business in general.
Some reason why business accountings is important for organization: * Accounting is sometimes called by the “language of business”, due to those accountings deals with interpretation of a company’s operation and finances. Some companies had problems with accountings like General Motors and
Student number: 100231152
Module code: 5AG501
Module Leader: Tapiwa Gande
Business Accounting
The systematic reporting and analysis of fanatical transactions of the business. The person in charge of accounting is known as an accountant, and this individual is typically required to follow a set of rules and regulations, such as the Generally Accepted Accounting Principles. Accounting allows a company to analyse the financial performance of the business, and look at statistics such as net profit.
In other words accounting is one of the important parts of business, which can significantly improve structure of business. For example if business is getting loose not profit it can show where business needs to save money and where business need to push money, to make more efficient work and gain profit.
Why is accounting important for business?
There are lots of reasons why accounting is important, there for accountings is a language that needs to be understood clearly by people, but more important by business owner, and especially by accountant`s. If the figures which are given in forms accountant can not see by clear picture and can not tell what is going wrong or what is going good, than business needs to employ another accountant for that organization, who actually will see clear picture of figures and who will be able to say in what direction should to go organization, that what accountant should be. One of the reason is, if accountant will do wrong calculations and after wrong calculations he will predict that they can spend more than they actually hold it might impact organization to lethal ending or bring huge loose to business in general.
Some reason why business accountings is important for organization: * Accounting is sometimes called by the “language of business”, due to those accountings deals with interpretation of a company’s operation and finances. Some companies had problems with accountings like General Motors and
Bibliography: 1. McLaney, E., and Atrill, P., (2010) Accounting; An Introduction (5th edition) ,FT Prentice Hall 2. Glautier, M., Underdown, B., and Morris, D., (2011) Accounting Theory and Practice ,FT Prentice Hall