Today I am going to be talking about accounting. There are many different subjects that can be talked about in accounting. I am only telling you the two subjects that I think are most important. I chose what is accounting and who uses accounting information. What is accounting? Many people might define it as hard or boring, but of course that is wrong, so here is the right answer. Accounting is the art of organizing, maintaining, recording, and analyzing financial activities. Accounting is generally known as the "language of business." The accountant translates this accounting information into meaningful terms that are used b interested parties. They also provide information that helps you produce goods or services as efficiently as possible to maximize profits and keep costs low. Every organization, whether organized for profit, nonprofit, charitable, religious, or governmental purposes require accountants. Accounting may be divided into three areas: (1) public accounting, (2) private accounting, and (3) governmental accounting. The public accountant, usually an employee of a CPA firm, is an employee as an independent contractor by a business to perform an auditing function: to review the accounting system used by the business, check the correctness of financial statements, and give an opinion. The public accountant also prepares income tax returns and provides management advisory services. The private accountant, usually employees by a business, records business activities and prepares periodic financial statements. The governmental accountant performs the same functions as a private accountant, but is employed by a federal, state, or local governmental agency. Who uses accounting information? Well all decision-makers need different kinds of information to make their decisions. The more complex the decision, the more accurate the information must be. In the world of business, accounting plays an important role in these various decision-making processes.
