Acct. is an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities.

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Analyzing and interpreting reports?

Communicating

Preparing financial statements?

Communicating

Presenting financial information?

Communicating

Determining employee tasks behind a service?

Identifying

Establishing revenues generated by a product?

Identifying

What is recording?

Input, measure, and classifying, Keeping a chronological log of transactions and events measured in dollars.

What is communicating?

Preparing accounting reports sucha s financial statements, then analyzing, and interpreting

Maintaining a log of service costs?

Recording

Measuring the costs of a product?

Recording

What is identifying?

We select transactions and events Ex: the sale of iPhones by apple and the receipt of ticket money by TicketMaster


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