Text

Accounting and Financial Information

---

Accounting is often called “the language of business” because it communicates so much of the information that owners, managers, and investors need to evaluate a company’s financial performance. These people are stakeholders in the business—they’re interested in its activities because they’re affected by them. The financial futures of owners and other investors may depend heavily on strong financial performance from the business, and when performance is poor, managers may be replaced or laid off in a downsizing. In fact, a key purpose of accounting is to help stakeholders make better business decisions by providing them with financial information. You shouldn’t try to run an organization or make investment decisions without accurate and timely financial information, and it is the accountant who prepares this information. More importantly, accountants make sure that stakeholders understand the meaning of financial information, and they work with both individuals and organizations to help them use financial information to deal with business problems. Actually, collecting all the numbers is the easy part. The hard part is analyzing, interpreting, and communicating the information. Of course, you also have to present everything clearly while
effectively interacting with people from every business discipline. In any case, we’re now ready to define accounting as the process of measuring and summarizing business activities, interpreting financial information, and communicating the results to management and other
decision makers.

---

Availability

No copy data

Detail Information

Series Title

-

Call Number

330

Publisher

Virginia : Pamplin College of Business and Virginia Tech Libraries., 2016

Collation

-

Language

English

ISBN/ISSN

-

Classification

330

Content Type

text

Media Type

computer

Carrier Type

-

Edition

-

Subject(s)

Information
Financial
Accounting

Specific Detail Info

-

Statement of Responsibility

Stephen J. Skripak

Other Information

Cataloger

umi

Source

-

Validator

Taufik

Digital Object Identifier (DOI)

-

Journal Volume

-

Journal Issue

-

Subtitle

-

Parallel Title

-

Other version/related

File Attachment

Comments

---

You must be logged in to post a comment