Sales: Sales: Support: Support:
Academic writing services  
 
Custom written essay Book report Research paper Dissertation Resume and CV Editing and proofreading  
main menu
discounts
discounts
By ordering custom paper you get
  • 24/7 Support
  • Over 100 professional US Writers
  • 300 words per page
  • Flexible discount system
  • FREE revision (within 2 days)
  • Anti-Plagiarism Software Check
we accept
sample essays
Accounting Essays
Admission Essays
Analysis Essays
Art Essays
Biography Essays
Biology Essays
Book Review Essays
Business Essays
Case Studies Essays
Cause and Effect Essays
Character Analysis Essays
Communication Essays
Communication and Media Essays
Compute Technologies Essays
Consideration Essays
Controversial Essays
Description Essays
Economics Essays
Education Essays
Evaluation Essays
Explanation Essays
History Essays
Job Essays
Law Essays
Management Essays
Medicine Essays
Music Essays
Personal Essays
Personal Experience Essays
Persuasive Essays
Persuasive Speech Essays
Philosophy Essays
Political science Essays
Politics Essays
Proposal Essays
Psychology Essays
Reflective Essays
Religion Essays
Research Essays
Response Essays
School Essays
Science Essays
Sociology Essays
Technology Essays
World Literature Essays
The Need for Accounting essay
 
← Australian Funghi Importer Pty LtdTarger Corp. Budget Estimates →

The Need for Accounting. Custom The Need for Accounting Essay Writing Service || The Need for Accounting Essay samples, help

Accounting is the practice of collecting, recording, classifying, analyzing, and summarizing financial information for the purpose of decision-making within the organization. It is vital for accountants to adhere to the recognized accounting standards to give information that is reliable and realistic for the growth and development of the organization.

This essay explicates the manner in which accounting information is used for making business decisions and significant accounting terms.

Use of Accounting Information in Decision-Making

Notably, accounting is used in making decisions as it entails effective recording of real events.  Cunningham, Nikolai, Bazley, Kavanagh, Slaughter, & Simmons (2011) assert that accounting records the actual financial transactions of the company hence providing a vital basis for decision making as this information is compared over different periods. Past accounting information gives managers the opportunity to make decision in relation to the current happenings in the market.

Additionally, accounting is used in making decisions as it shows all aspects of the company’s expenditure and incomes. Accounting provides clear information relating to both expenses and the areas of income within the organization. In line with this, managers are able to make decisions that would maximize revenue and minimizing unnecessary expenses in the organization.

Three Accounting Terms

The going concern concept is one of the key terms used in accounting.  According to Carey, Knowles, & Towers-Clark (2011), the going concern concept implies that business operations would continue with operations into the future as the business continues managing its accounting system. This means that the business has adequate resources and is viable to continue with its operations as long as possible into the future.

Another vital term is materiality. Materiality means that accounting would only depend on details that are relevant in the determination of business operations and the recording of financial information. In line with the term of materiality, accounting does not take into consideration items that are trivial in affecting business operations.

Conservatism is another important term in accounting.  Kimmel, Weygandt, & Kieso (2010) reiterate that this term requires all businesses to account for liabilities even in cases where they are deemed not to occur. Again, businesses should also not anticipate revenues and should only account for them at the time of receipt of these revenues. This facilitates efficient operations in the business.

Conclusion

In conclusion, accounting is founded on principles and concepts that must be taken to consideration when dealing with accounting information. Overall, accounting information is a vital tool for decision-making within the organization as it records actual financial transactions. 

The Need for Accounting. Custom The Need for Accounting Essay Writing Service || The Need for Accounting Essay samples, help

Order Now
Order nowhesitating

Related essays

  1. Targer Corp. Budget Estimates
  2. Flexible Budgeting (Advanced Managerial Accounting)
  3. Australian Funghi Importer Pty Ltd
  4. Are Classifications of Accounting Outmoded?


order now

 
 
3.6K
1.2K
Order now
Email
Password
 
why choose us
96% of satisfied returning customers
24/7 customer support
A wide range of services
Up-to-date sources
100% privacy guaranteed
MA/PhD writers
Custom written papers only
Free plagiarism report
Free revision (within 2 days)
Free extras by your request
Direct communication with a writer
faq
Are your writers qualified for the custom writing?
How quick can my order be accomplished?
Is it legal to buy custom essays, term papers or book reports from your company?
Are essays offered by your company truly custom-written?
Is it safe to buy from SupremeEssays.com?
How secure is the payment system of your company?
Can I submit custom essays or term papers done by your company as my own?
How can I contact your company if I've got problems with my ordered paper?
testimonials

Finally, I've found the real custom writing service . My grades are saying "Thank you, it's been a pleasure to work with you."

Jamal, South Africa

I can't believe you finished my essay under such a short deadline! You saved me from a disaster once again. You guys deliver exactly what you promise. I'll be back. That's for sure!

William H , Kansas, US

contact us
Toll free for US & Canada only. International callers are charged for outgoing calls.

Our phone numbers:
SupremeEssays.com provides custom term paper writing/rewriting services inclusive of research material for assistance purposes only. The term papers should be used with proper reference and are not meant to replace actual assignments.
 

Get 15% off your first custom essay order

Order now

PRICES
from $12.99/PAGE

X