Professional Documents
Culture Documents
&
REPORTING
(Fundamenta
)
ls
Definition of accounting
• Accounting is a process of identifying,
recording and communicating economic
information that is useful in making
economic decisions.
Nature of accounting
• Accounting is a process with the basic
purpose of providing information about
economic activities intended to be useful in
making economic decisions.
END
Chapter 1: Introduction to Accounting
(FAR by: Millan)