The Role of Accounting

Question 1

Purpose of Accounting

Answer 1

To provide financial information and advice to assist decision-making

Question 2

Accounting

Answer 2

The process of collecting and recording financial data; reporting analysing and interpreting financial information; and advising users about possible courses of action to assist decision-making

Question 3

Ethical Considerations

Answer 3

the social and environmental consequences of a financial decision

Question 4

The four stages of Accounting

Answer 4

1. Source Documents
2. Recording
3. Reporting
4. Advice