Section 2
Accounting Information
Book
Version 6
By Boundless
By Boundless
Boundless Business
Business
by Boundless
6 concepts
Usage of Accounting Information
Accounting is the vehicle for reporting financial information about a business entity to many different groups of people.
Managerial Accounting
Through integrating accounting knowledge with strategic decision-making, organizations can improve performance, refine strategy, and mitigate risk.
Financial Accounting
Financial accounting is a core organizational function in which accountants prepare a variety of documents to inform stakeholders of the financial health of operations.
Tax Accounting
Tax accounting couples legal obligations with financial accounting to ensure adherence to current tax laws.
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Government and Nonprofit Accounting
Governmental and nonprofit accounting follow different rules from those of commercial enterprises.
Consumers of Accounting Information
Most of a company's stakeholders consume its accounting information in one form or another.