Asked by Blake cannistraro on Jul 19, 2024
Verified
Explain the role of accounting in the information age.
Accounting
The systematic process of recording, reporting, and analyzing financial transactions of a business.
Information Age
A period in human history characterized by the shift from traditional industry to an economy based on information technology.
- Identify the users of accounting information and understand the various purposes for which it is used.
Verified Answer
BN
Bíchh Ng?ccJul 21, 2024
Final Answer :
Accounting is an information and measurement system.It identifies,records,and communicates relevant,reliable and comparable information about business activities.Accounting also includes the crucial process of analysis and interpretation.It is part of our everyday lives,through such activities as banking,paying taxes,and receiving payroll checks.Technology plays a major role in accounting by reducing the time effort and cost or recordkeeping while improving clerical accuracy.
Learning Objectives
- Identify the users of accounting information and understand the various purposes for which it is used.
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