Learn On Your Own Accounting Chapters:

he American Accounting Association defines accounting as "the process of identifying, measuring, and communicating economic information to permit informed judgments and decisions by the users of the information". This information is primarily financial stated in money terms.

Accounting also supplies management with significant financial data useful for making sound business decision based on reliable financial statements. This aspect of accounting gradually assumed so much importance that it has now been raised to the level of an information system. As an information system, Data gathered from their various sources, are collected, organized, analysed, interpreted and communicated to the end users for an informed economic decision making that will in the long run yield positive fruit. The different chapters included aims to elucidate visitors the various chapters of accountancy from the very initial chapters/topics with recording business transactions and leading up to the preparation of financial statements. The chapters aim to elucidate the purpose of financial accounting--to create useful financial information in the form of general-purpose financial statements.