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Accounting: AAA Definition of Accounting

The document provides definitions of accounting from various organizations, including AICPA, ASC, AAA, and PICPA, highlighting its role as a systematic process for measuring and reporting financial information. It emphasizes accounting as the language of business and its importance in facilitating informed economic decisions. Each definition reflects the core functions of recording, classifying, and interpreting financial transactions.

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Faith Claire
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211 views1 page

Accounting: AAA Definition of Accounting

The document provides definitions of accounting from various organizations, including AICPA, ASC, AAA, and PICPA, highlighting its role as a systematic process for measuring and reporting financial information. It emphasizes accounting as the language of business and its importance in facilitating informed economic decisions. Each definition reflects the core functions of recording, classifying, and interpreting financial transactions.

Uploaded by

Faith Claire
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

The systematic process of measuring and

Accounting reporting relevant financial information


about the activities of an economic
organization or unit.
The language of business.

AICPA American Institute of Certified Public


Accountants

AICPA definition of The art of recording, classifying, and


summarizing in a significant manner and in terms
Accounting of money, transaction, and events, which are in
part at least of a financial character, and
interpreting the result thereof.

ASC Accounting Standard Council

A service activity. Its function is to


ASC definition of provide quantitative information, primarily
financial in nature, about economic
Accounting entities, that is intended to be useful in
making economic decisions.

AAA American Accounting Association

AAA definition of The process of identifying, measuring and


Accounting communicating economic information to
permit informed judgments and decisions
by users of the information.

PICPA Philippine Institute of Certified Public


Accountants

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