Accounting Profession Can be Learnt Through Accountancy Courses

Accounting is the process of communicating financial information on a company of users such as shareholders and managers of the release is usually in the form of accounts showing the money in the economic resources controlled by management, the art is in the choice of information that are relevant to users and is reliable. Accounting principles used in the business units into three divisions practical, appointed Accountancy, bookkeeping and auditing is defined by the Oxford English Dictionary (OED), which “profession or duties of an auditor. “AccountingA is defined by the American Institute of Chartered Accountants (AICPA) as” the art of recording, classifying and summarizing significantly and in terms of money, transactions and events that are, at least in part, of a financial character and interpreting the results thereof. Accounting is thousands of years, the first recordings dating back over 7000 years, were found in Mesopotamia (Assyrian). The people of that time relied on the accounting record primitive crop growth and livestock. Accounting developed, improved over the years and to advance as leading-edge business

Early reports were used primarily to help the memory of the businessman and the public to the account holder was the holder of record or alone. Grosser forms of accounting have been insufficient to solve the problems that the company involving several investors, such as double entry appeared in northern Italy in the 14th century, when commercial companies began to demand more capital of only one person was able to invest. Development corporations created for the wider public accounts, as investors, without direct knowledge of their activities counted accounts provide the necessary information. This development has led to a deterioration of the accounting systems of internal control (ie, internal accounting) and external (ie financial accounting) purposes, and later also in the accounting rules and disclosure and a growing need certified independent external accounts, the accountants

Now, accounting is called “the language of business” because it is the vehicle of communication of financial information of a business entity to many different groups of people. Accountants focused on the relationship of people within the entity’s business is called management accounting and is used to provide information to employees, managers, owners, managers, management accountants and auditors are primarily concerned with providing a basis for making management decisions or the operation. Accounting, which provides information to people outside the business entity is called financial accounting and provides information to shareholders and potential creditors, such as banks or suppliers, financial analysts and government economists agencies Because these users have different needs, the presentation of financial accounts is highly structured and subject to rules much more than management accounting. The Code, which governs the accounting of the powers given are called generally accepted accounting principles, or GAAP. Other rules are the International Financial Reporting Standards, IFRS, U.S. GAAP

Author is working with Institute of Accountants offering Accountancy courses andATraining and development and Vocational Education

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