scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 1,191
What goes on in business and other organizations How are their activities carried out Who is responsible for them And what part does accounting play These questions and many more are often thought about by many confused and mislead business majorsThe main purpose of accounting is to provide useful reliable and timely information to people who make rational investments credit and similar decisions Because accountants serve decisions makers by providing them with financial information that helps them make better decisions accounting is often decried as a service activity Decision makers who use accounting information include present and potential investors lenders managers suppliers customers and other users Accounting is used to provide information about all profit-oriented businesses Accountants also provide information about nonprofit organizations such as churches hospitals museums schools and various government agencies The people who use accounting information about nonprofit organizations include their managers and people who denote to or pay taxes to them who use their services or who otherwise work with them Whether you are planning to be an accountant an employee a manager within an organization or an external user of the information a your knowledge of accounting will help you achieve more success in your careerThe internal role of accounting is to serve the organizations various functions by providing information that helps them complete their tasks By providing this information accounting helps departments such as Finance Human Resources Research and Development Production Marketing and Executive Management reach their overall goalsEvery organization needs money to operate and grow Organizations use money to acquire equipment buildings vehicles and financial holdings The finance department has the function of planning how to obtain money from sources such as payments from customers loans from banks and new investments from owners In preparing plans the finance department identifies and evaluates alternative sources of funds In addition finance analyzes alternative investment opportunities to identify which to take and which to reject With this information the finance department
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA