1. Definition of Accounting
Management accounting is concerned with future events and its main function is to provide financial information to managers. ... Social welfare accounting is an entirely new phase in accounting development. It is concerned with the social effects of business decisions. ... Glautier & Underdown (1991) bring our attention to the fact that accounting was defined the following way by Littleton (1953): "The central purpose of accounting is to make possible the periodic matching of costs (efforts) and revenues (accomplishments). ... This definition is very similar to the definition made in 1953,...
- Word Count: 1977
- Approx Pages: 8
- Grade Level: Undergraduate