FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Describe the internal role of accounting for organizations.
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- Accounting is an information and measurement system that identifies, records and communicates an organization's business activitiesarrow_forwardInternal accounting information is used primarily for internal decision making by an enterprise’smanagement.a. What are the three primary purposes of internal accounting information?b. Which of these is the most general and which is the most specific?c. Give several examples of the kinds of decisions that internal accounting information supports.arrow_forwardExplain the use of the general ledger in the financial management process.arrow_forward
- Illustrate the importance of the flow of information in accounting?arrow_forwardHow does the expenditure transaction cycle operate in an organization's accounting system?arrow_forwardExplain how accounting is used to track and monitor the principal business activities of an organizationarrow_forward
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