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
