Accounting. Goals and objectives of accounting (most important)

Free technical library

Lecture notes, cheat sheets
Free library / Directory / Lecture notes, cheat sheets

Accounting. Goals and objectives of accounting (most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

Comments on the article

Table of contents (expand)

9. Goals and objectives of accounting

Purpose of accounting - formation of information for external and internal users.

For external users, the purpose of accounting is the formation of information about the financial position of the enterprise: financial results and their changes for a wide range of interested users.

Interested Users:

▪ individuals and legal entities need information about the organization and are able to evaluate it;

▪ investors have a need for information about the risk and profitability of planned operations and the ability of the enterprise to pay dividends;

▪ the organization's personnel have the right to know about the organization's ability to pay for labor and maintain jobs;

▪ suppliers and contractors have the right to know about the solvency of the enterprise;

▪ customers and buyers have the right to know about the terms of the enterprise’s activities;

▪ authorities need information to regulate areas of the national economy and monitor statistical data;

▪ The public can use information to judge the role and contribution of an enterprise at the local, regional and federal levels.

For internal users, information is necessary for decision-making, planning, analysis and control of production and financial activities.

Accounting provides:

▪ identifying the economic essence, measuring business transactions, recording them in accounting registers in order to prepare them for further use;

▪ processing credentials, storing them until a certain point, then summarizing them into the necessary useful information (internal and external);

▪ transfer of this information in the form of reports to those who need it to make decisions.

Continuous, continuous documentation of business transactions, their registration and generalization make it possible to form complete and reliable information about the organization necessary for the preparation and adoption of informed decisions at all levels of management, to assess the behavior of the enterprise in the market, to identify the financial condition.

The main accounting tasks are:

▪ generation of complete and reliable information about the activities of the organization, the results arising from it, about its property status, necessary for internal users of accounting statements - managers, founders, participants and owners of the organization’s property for operational management, as well as external ones - investors, creditors, suppliers, customers , tax and financial authorities, banks and other interested users of financial statements;

▪ providing information necessary for internal and external users of financial statements to monitor compliance with the legislation of the Russian Federation when the organization carries out business operations and their feasibility, the availability and movement of property and liabilities, the use of material, labor and financial resources in accordance with approved norms, standards and estimates;

▪ timely warning and prevention of negative results of the organization’s economic and financial activities, identification and mobilization of internal reserves to ensure the financial stability of the enterprise.

Author: Kabkova E.N.

<< Back: Essence and functions of accounting

>> Forward: Basic Accounting Principles

We recommend interesting articles Section Lecture notes, cheat sheets:

▪ International economic relations. Crib

▪ Family law. Crib

▪ Economics and sociology of labor. Crib

See other articles Section Lecture notes, cheat sheets.

Read and write useful comments on this article.

<< Back

Latest news of science and technology, new electronics:

The existence of an entropy rule for quantum entanglement has been proven 09.05.2024

Quantum mechanics continues to amaze us with its mysterious phenomena and unexpected discoveries. Recently, Bartosz Regula from the RIKEN Center for Quantum Computing and Ludovico Lamy from the University of Amsterdam presented a new discovery that concerns quantum entanglement and its relation to entropy. Quantum entanglement plays an important role in modern quantum information science and technology. However, the complexity of its structure makes understanding and managing it challenging. Regulus and Lamy's discovery shows that quantum entanglement follows an entropy rule similar to that for classical systems. This discovery opens new perspectives in the field of quantum information science and technology, deepening our understanding of quantum entanglement and its connection to thermodynamics. The results of the study indicate the possibility of reversibility of entanglement transformations, which could greatly simplify their use in various quantum technologies. Opening a new rule ... >>

Mini air conditioner Sony Reon Pocket 5 09.05.2024

Summer is a time for relaxation and travel, but often the heat can turn this time into an unbearable torment. Meet a new product from Sony - the Reon Pocket 5 mini-air conditioner, which promises to make summer more comfortable for its users. Sony has introduced a unique device - the Reon Pocket 5 mini-conditioner, which provides body cooling on hot days. With it, users can enjoy coolness anytime, anywhere by simply wearing it around their neck. This mini air conditioner is equipped with automatic adjustment of operating modes, as well as temperature and humidity sensors. Thanks to innovative technologies, Reon Pocket 5 adjusts its operation depending on the user's activity and environmental conditions. Users can easily adjust the temperature using a dedicated mobile app connected via Bluetooth. Additionally, specially designed T-shirts and shorts are available for convenience, to which a mini air conditioner can be attached. The device can oh ... >>

Energy from space for Starship 08.05.2024

Producing solar energy in space is becoming more feasible with the advent of new technologies and the development of space programs. The head of the startup Virtus Solis shared his vision of using SpaceX's Starship to create orbital power plants capable of powering the Earth. Startup Virtus Solis has unveiled an ambitious project to create orbital power plants using SpaceX's Starship. This idea could significantly change the field of solar energy production, making it more accessible and cheaper. The core of the startup's plan is to reduce the cost of launching satellites into space using Starship. This technological breakthrough is expected to make solar energy production in space more competitive with traditional energy sources. Virtual Solis plans to build large photovoltaic panels in orbit, using Starship to deliver the necessary equipment. However, one of the key challenges ... >>

Random news from the Archive

Chromebooks updated and discounted 01.01.2012

In the "cloud" Chrome OS has a number of innovations. In particular, the login screen has changed, the browser has acquired new tabs, music applications, games and a file manager have been added.

A little earlier, the Chrome Web Store was redesigned, the main page of which is now an "endless wall" with the most interesting applications. At the same time, Google agreed with the manufacturers of new prices.

In 2012, "chromobooks" will fall in price by $50: for example, prices for models from Acer and Samsung start at $299. At the same time, Samsung introduced a new version of the Chromebook Series 5 - completely black.

Other interesting news:

▪ Fighting ship foulers - following the example of whales

▪ Sea of garbage

▪ Calm expected

▪ New from Dell

▪ Transplanting a beak to a vulture

News feed of science and technology, new electronics

Interesting materials of the Free Technical Library:

▪ site section Batteries, chargers. Article selection

▪ article by Theophrastus. Famous aphorisms

▪ article Which animal had the talent to predict the outcome of football matches? Detailed answer

▪ Daikon article. Legends, cultivation, methods of application

▪ article Running lights with auto-reverse. Encyclopedia of radio electronics and electrical engineering

▪ article Using old parts in voltage multipliers. Encyclopedia of radio electronics and electrical engineering

Leave your comment on this article:

All languages of this page

Home page | Library | Articles | Website map | Site Reviews