ACCOUNTING SERVICES
=MARIDEL SALGADO=
ACCOUNTING SERVICES is a service offered by accountants to all kinds of businesses. Accounting is systematic recording, reporting and analysis of financial transaction of the business. This is to provide a record such as funds paid or received to a person or to a business firm. It summarizes and submits this information in reports and statements. The reports are intended both for the firm itself and for outside parties. The actual recording and summarizing of the transactions is called bookkeeping. Accounting services helps a certain business to find their assets and liabilities through the balance sheet; the income statement reports the firm's gross proceeds, expenses, profit or loss; and the statement of cash flow reports on the flow of cash into and out of the firm. The creation of reports for internal planning and decision making is called managerial accounting. It provides the manager reliable information on the costs of operations and on standards with which those costs can be compared, to assist them in budgeting. Accounting is also known as the language of the business because through this the business firm will able to find the status of the business. Thus, accounting covers a wide range of financial analysis, planning and summarizing the data before it can come up to a report that will be the base of the manager to the flow and status of the business. This service re done by the accountant or the account practetioner,he is the one who renders his personal accounting services to the clients such as preparing personal financial statements and tax planning.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment