Question

what is accounting and explain it work in todays world.

Answer 1

Accounting is the information system that measures business activities, processes the information into reports, and communicates the results to decision makers. Accounting is the language of business.

• Financial accounting provides information for external decision makers, such as outside investors, lenders, customers, and the federal government.
• Managerial accounting focuses on information for internal decision makers, such as the company's managers and employees.