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Your Accounting Questions Answered

 Question

How would you define Accounting in your own words?
Accounting is a tool used in Business for two main purposes. One purpose is to help managers and employees to make plans, budgets, and decision and then to determine whether the goals of the business have been met and to take corrective action if needed. The other broad type of Accounting is... read more
Accounting is a tool used in Business for two main purposes. One purpose is to help managers and employees to make plans, budgets, and decision... read more
James W.

James W. answered • 03/22/18

Tutor
4.9 (92)

 Question

How would you define Accounting in your own words?
Accounting is the language of business that records transaction type and size. It's not merely what the numbers are, but what they MEAN in various business contexts. Managerial attitudes can often be detected through analyses of executive choices in estimation and treatment policies.
Accounting is the language of business that records transaction type and size. It's not merely what the numbers are, but what they MEAN in various... read more
Brad M.

Brad M. answered • 12/25/18

Tutor
4.9 (338)

 Question

How would you define Accounting in your own words?
Accounting is in essence its own language. As with learning any language certain concepts are easier and others are harder and that varies individually. But also like any language, if you know enough of the base structure you can get by. With accounting once you grasp the various account types... read more
Accounting is in essence its own language. As with learning any language certain concepts are easier and others are harder and that varies... read more
Jeremy M.

Jeremy M. answered • 07/18/18

Tutor
5.0 (6)

 Question

How would you define Accounting in your own words?
Beyond the "textbook" definitions, accounting is the recording, reporting, and communicating of financial information to owners, investors, creditors, and others, to allow for reliable investment and other business decisions. As a CFO for 20+ years, and an adjunct accounting professor for 25... read more
Beyond the "textbook" definitions, accounting is the recording, reporting, and communicating of financial information to owners, investors,... read more
Richard C.

Richard C. answered • 03/19/18

Tutor
4.8 (39)