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Accounting Final Common Assessment Paper
Finance & Accounting
Pages 4 (1004 words)
Accounting has been one of the oldest professions, which has existed since the inception of trade. However, its forms have changed in terms of the methods deployed for performing different tasks of accounting…
This is also carried out to ensure that the information provided by the accounting function is meaningful and relevant to its users. Every organization does have an accounting function to assist in recording and reporting of financial information generated from different activities of the business. The data processed by the accounting function can be useful to users of this information in many ways. This paper looks at the role of accounting in organizations and its importance in terms of managing a business. Furthermore, it will delve the usefulness of the accounting information generated the accounting function.
The importance of accounting function in any organization cannot be ignored. It is considered as an independent function which is responsible for gathering information from different business activities and then compiling and publishing them in accordance to the reporting standards. The role of accounting has changed over the years. It is not just limited to reporting of financial information to external users, but also is responsible for performing various other tasks in any organization. Accountants are involved in planning and implementation of the company’s strategies through different processes. ...
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