Accounting - Understanding and using accounting information
Understanding and using accounting information
An understanding of the accounting system is an important first step in
this topic.
Accounting System
Input
Process
Output
Three basic steps
Basically this topic is about Output. The data (input) has been collected
and sorted into records from which reports have been prepared (process) and
now it is up to you to use that information to make decisions (output).
There are several steps in using output:
Analysis and interpretation - directing attention to the significance of various figures and relationships. For instance this could involve comparing this year's sales revenue with the previous year's.
Evaluation - to assess the worth or value of what is shown by step 1.
Decision making - to make decisions based on conclusions reached on the value of that information.
Using output
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The three basic steps in understanding accounting information: * Input *Process *Output.
Three basic steps in understanding accounting information: *Input *Process *Output.
There are several steps in using output
getting it right matter most
Accounting -> Understanding and using accounting information Understanding and using accounting information An understanding of the accounting system is an important first step in this topic. Three basic steps Basically this topic is about Output. The data (input) has been collected and sorted into records from which reports have been prepared (process) and now it is up to you to use that information to make decisions (output). There are several steps in using output: Using output.
output step interpret, evaluate and inform in decision making.
This course is very fruitful as it gives clear accounting information. it helps to interpret crystal clearly for making proper financial decision.
i agree
What is understanding and using accounting information?
point taken