Evaluate the Output of the Process and the Quality Gateways

Accounting is the methodical and full recording of financial transactions relating to a business, and it also denotes to the procedure of briefing, examining and evaluating these transactions to cross checking agencies and tax collection agencies. Accounting is one of the key purposes for nearly any company. It may be done by an auditor and accountant at small businesses or by substantial finance subdivisions with lots of employee’s at

Firstly the role of accounting is to record business transactions in a systematic way, for instance recording the amount of sales made to customers by John Lewis. This is done by the business to keep the records accurate and updated as well. If bookkeeping is done incorrectly, this will result in the business processing wrong payments or billings. For instance, if John Lewis does not do bookkeeping, the business will end up making payment to wrong suppliers.

Accounting is a business discipline that allows companies to record, analyze, and retrieve critical financial information that can be used to determine a company 's financial status. Its purpose is to help people understand what is going on financially within an organization provide reports and insights needed to make sound financial decisions.

Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions. These activities include computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial

For as long as businesses have existed, so has accounting. With time, it has become more complicated and detailed, but it is still a process of keeping financial accounts in order. Through accounting, or financial reporting, a system is set up to keep track of, maintain and audit the financial proceedings. Because accounting and financial reporting of a business is so important for its accuracy and in general, a lot of ethical, technological and legal concerns are involved. In this paper, we will look identify and explore the concerns of each of these.

Accounting is a system of recording analysing and communicating financial information to permit informed judgement and a decision by the users of a financial statement. Accounting is important to City of Westminster College because it can help provide the college with the information they may need in the future. will help the college know what going in and out the college and ensure that they are not falling behind with their expenditure. In accounting, there are many factors that need to be considered, such as controlling and complying with the law,that will help the business build profit and expand. The following purposes will show why accounting in business is important.

The term accounting refers to the process of measuring recording summarizing and analyzing the information recorded in the ledger. This helps the company plan and control the activities of the

Accounting has been playing a very important role in many places such as Australian accounting standards. Australian accounting standards is also developed by the Australian Accounting Standards Board (AASB). This essay will firstly discuss what AASB is, the role and the functions of AASB. And then, following this, the other projects’ role such as Financial Reporting Council (FRC) and International Accounting Standards Board (IASB) and the relationship between AASB, FRC and IASB.

Accounting and finance are closely related to a certain extent in which both deal with the financial aspects of a company. Accounting and finance work together in creating “a company’s budget or working capital analysis” (Wise-Geek, 2012, p. 1). Accounting involves recording of an organizations operations of a business as well as showing the information in the outline profit and loss accounts, which demonstrates the gain or loss of the organizations throughout the year. In addition, accounting includes provisions of a balance sheet replicating the monetary positions of a business at a specific time period. It should provide clear and precise figures about the proprietary and financial condition in a

Financial accounting statements can help a user to make future decisions by showing the concerned business’s health. It shows where money is being generated, spent and lost, depicting the financial performance and financial position. The statements can also help in situations such as raising fresh capital in the form of a loan, e.g. a bank will most likely require these statements to show the business’s credibility or worthiness. The statements help influence managerial decisions on which direction the business needs to head, and how to best maximize profit.

As a consultant it is my responsibility to recommend the best direction for a new business to follow in order to be successful in financial documentation. It is very important for a new business/owner to understand the functions of accounting and its’ basic accounting system. Since Accounting Information Systems (AIS) is used to store, collect and process financial information. It would be wise for a new business to know the ins and outs of recording their finances so that they can keep track of their finances to see if they are gaining or losing a profit.

Strategic management accountant will be related with provisions and accounting information in an organization to the managers.

Financial Management Introduction = == == == ==

The management accounting is an effective and important provider for business information that helps the management to make decisions relating to business activities and investment decisions. Managerial accountants play a crucial role in advising managers about the financial implications of projects; and run some analysis such as cost benefit analysis, sensitivity analysis. At the same time managerial accounting streamline the management by explain the financial consequences of business decisions. It plays a crucial role in formulate business strategy to assist the higher management to build the strategic goals and strategic plan. Managerial accountants always monitor spending and financial control as well as conduct internal business audits. The management accounting is a control tool used for various internal business processes of the enterprise, consequently becoming essential in any manager’s daily processes and operations.

Accounting can be defined in a number of ways, but I chose the book definition, which is; Accounting is an information system that provides reports to stakeholders about the economic activities and condition of business. The person in charge of accounting is called the accountant. The accountant is typically required to follow a set of rules and regulations. These rules and regulations are called the General Accepted Accounting Principles. Throughout these next few paragraphs, I will be giving you the history and evolution of accounting, and I will be explaining who the stakeholders are and what type of information they require, and I will be explaining the role of accounting in business. There will be many examples and type of business