It is a means of communicating financial information to different users for decision making. From the illustration presented, and for a straightforward answer, it is clear that the ultimate purpose of accounting is to provide information to different users. The Purpose of Accounting. It can actually be depicted from some definitions made by accounting … Can anyone guess what the main purpose of accounting is?' Purpose of Accounting 'Now that you know what ALOE is in accounting, let's talk about the entire purpose of accounting. Included in the … Treasury management: accounting and finance department sets up treasury management policy to be adopted by all who come in contact with cash or cash equivalent. The users utilize the information in making economic decisions. The purpose of the accounting department of … 1. Professor Potter asks. Accounting, for academic interest, can be defined as the task of systematically recording, reporting, and archiving all the financial information of the business. Accounting is often referred to as “Language of Business”. The primary role of accounting … The accounting department may be assigned other functions as well, but this list gives you a pretty clear idea of the back-office functions that the accounting department performs. Quite literally, a business could not operate if the accounting department … The main objectives of accounting are: RECORDING TRANSACTIONS.

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