Accounting as the Important Function of Every Business Organisation (Halfords company)

Accounting as the Important Function of Every Business Organisation (Halfords company) Essay example
Masters
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Finance & Accounting
Pages 4 (1004 words)
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Every business organisation usually had a number of business transactions. Similarly Halfords would also have a number of transactions during a particular accounting period…

Introduction

Accounting’s main or primary purpose is to identify the activities of the business organisation, recording and measuring the transactions of the business and communicating the financial information to all the interested persons like the shareholders, investors, creditors, management, employees, government etc. The financial information generated from accounting in form of financial statements helps managerial decision making and other important investment decisions. Accounting is an important function of every business organisation. Accounting has various purposes and objectives. Among the various purposes, the main purpose of accounting is to record the transaction of the business enterprise in a systematic manner and to provide information about the financial position of the business enterprise to all its stakeholders. Accounting’s main or primary purpose is to identify the activities of the business organisation, recording and measuring the transactions of the business and communicating the financial information to all the interested persons like the shareholders, investors, creditors, management, employees, government etc. The financial information generated from accounting in form of financial statements helps managerial decision making and other important investment decisions. ...
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