Woniwon

• Accountancy, Busimins and Mandiquant I
• Accounting


  The process of recording financial transactions pertaining to a business
• Financial statements


  • Balance sheet
  • Income statement
  • Income loss
• Liabilities


  Business's responsibilities
• Fixed assets


  Items that a company plans to use over the long term
• Fixed assets


  • Furniture
  • Buildings
  • Vehicles
• Assignment


  Asset or Umat is founty?
• Dissemination


  Spreading or sharing information, knowledge, or ideas to a wider audience
• Notes payable


  Notes receivable
• Assets


  Anything that has current or future economic value to a business
• Owners' Equity


  The capital or net worth of a business
• Tax authorities determine whether a business declared the right amount of tax in its tax returns
• Tax authorities conduct audits of the tax returns filed by businesses so as to verify the data with the underlying accounting records
• Tax authorities cross reference accounting information of suppliers and consumers as to recognize potential tax evaders
• Government ensures that a company's disclosure of accounting information is in accordance with the regulations that are in place to safeguard the interest of varied stakeholders who depends on such information in forming their decisions
• External auditors examine the financial statements and the underlying accounting record of companies to form an audit opinion
• Investors and other stakeholders rely on the independent opinion of external auditors on the accuracy of financial statements
• General public can also have an interest in accounting information of a corporation. These could include journalists, analysts, academics, activists and individuals with an interest in economic developments
• Identifying


  Recognizing business transactions and events that should be recorded
• Recording


  Systematically keeping track of business transactions and events
• Communicating


  Preparing and distributing financial reports and other accounting information to users
• Accounting has a long tradition, with its roots in the earliest transactions between individuals, from writing on wet clay tablets to now logging into a web spreadsheet
• Accountants are those who evaluate data, keep accounts and interpret information for companies, from one-person ventures to large organizations, about financial and operational activities
• The aim of accounting is to provide users who have to make decisions with helpful details
• Accounting users


  • Internal users (management, staff, owners)
  • External users (government, public)
• Managerial accounting describes the financial details that management needs for the primary users to schedule, monitor, and estimate the activities of an entity
• Glomerular filtration rate (GFR) refers to the volume of plasma filtered by the glomeruli per minute.