What is accounting Flashcards
what is managerial accounting
accounting that focuses on internal users
What is financial accounting
accounting is done to report to external users
Are managerial employees considered internal or external users in terms of accounting
external
what is data anayltics
the procces of analyzing and interpreting data to identify relationships and trends
what is data visualisation
the process of making visual represetnaiton of data to help people better understand it .
what is the point of a statement of owner’s equity
to track the activity of the owners. Detail of multi-owner equity.
what is the purpose of an income statement
it details how profitable a company is. compared to competitors. is utilized for tax purposes
what is the purpose of a balance sheet
to detail what a company owns and what it owes. overall health of a company
