Financial Accounting & Analysis Unit 1

For management to make decisions about the future of the firm they require relevant financial information. This is where accounting steps in. It is the language of business that records summarizes and analyzes all transactions and events of a firm.

the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results also : the principles and procedures of this system studied accounting as a freshman. a : work done in accounting or by accountants.