Accounting Bookkeeping

May 13th, 2015
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Rogers State University
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It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity

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AccountingIt is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity. Accounting provides information on the resources available to a firm.BookkeepingSystematicrecordingoffinancialaspects ofbusiness transactionsin appropriatebooks of account.Business transactionAn economiceventthat initiates theaccounting processofrecordingit in acompany'sac

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