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    A. Financial Accounting: Statements, The End-Product Reports in Accounting, It Delivers Information To

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    Muslim Habibie
    Accounting is known as the "language of business" and is used to communicate information about a business entity through financial statements. The functions of accounting include controlling financial policies, planning, budget preparation, cost control, evaluating employee performance, and preventing errors and fraud. There are two main fields of accounting: financial accounting and management accounting. Financial accounting involves running the accounting and financial activities of an organization and providing financial information to other departments. Management accounting provides internal information to management to help drive business strategy and ensure financial security through tasks like strategic management, performance management, and risk management.

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    A. Financial Accounting: Statements, The End-Product Reports in Accounting, It Delivers Information To

    Uploaded by

    Muslim Habibie
    7 views2 pages
    Accounting is known as the "language of business" and is used to communicate information about a business entity through financial statements. The functions of accounting include controlling financial policies, planning, budget preparation, cost control, evaluating employee performance, and preventing errors and fraud. There are two main fields of accounting: financial accounting and management accounting. Financial accounting involves running the accounting and financial activities of an organization and providing financial information to other departments. Management accounting provides internal information to management to help drive business strategy and ensure financial security through tasks like strategic management, performance management, and risk management.

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    Accounting is known as the "language of business" and is used to communicate information about a business entity through financial statements. The functions of accounting include controlling financial policies, planning, budget preparation, cost control, evaluating employee performance, and preventing errors and fraud. There are two main fields of accounting: financial accounting and management accounting. Financial accounting involves running the accounting and financial activities of an organization and providing financial information to other departments. Management accounting provides internal information to management to help drive business strategy and ensure financial security through tasks like strategic management, performance management, and risk management.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    7 views2 pages

    A. Financial Accounting: Statements, The End-Product Reports in Accounting, It Delivers Information To

    Uploaded by

    Muslim Habibie
    Accounting is known as the "language of business" and is used to communicate information about a business entity through financial statements. The functions of accounting include controlling financial policies, planning, budget preparation, cost control, evaluating employee performance, and preventing errors and fraud. There are two main fields of accounting: financial accounting and management accounting. Financial accounting involves running the accounting and financial activities of an organization and providing financial information to other departments. Management accounting provides internal information to management to help drive business strategy and ensure financial security through tasks like strategic management, performance management, and risk management.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    of 2

    1.

    Definition of accounting

    Accounting is known as the "language of business". Accounting is a means through


    which information about a business entity is communicated. Through the financial
    statements, the end-product reports in accounting, it delivers information to
    different users.

    2. Function of accounting

    Functions of Accounting are; control of financial policy, and formation of


    planning, preparation of the budget, cost control, evaluation of employees’
    performance, Prevention of errors and frauds.

    Fungsi Akuntansi adalah; pengendalian kebijakan keuangan, dan


    pembentukan perencanaan, penyusunan anggaran, pengendalian biaya,
    evaluasi kinerja karyawan, Pencegahan kesalahan dan kecurangan.

    3. Fields of accounting
    a. Financial accounting
    A Financial Accountant is responsible for running the accounting and financial
    activities of an organisation. They analyse the economic stability of the company and
    provide financial information to other departments, enabling these departments to
    make budgeting and investment decisions. A Financial Accountant reports on costs,
    productivity, margins and company expenditures.

    b. Management accounting

    - The role of the management accountant is to


    perform a series of tasks to ensure their
    company's financial security, handling
    essentially all financial matters and thus helping
    to drive the business's overall management and
    strategy.
    Management accounting is a form of accounting used in businesses worldwide.
    Management accounting is designed to provide management with the
    information necessary to make high-level decisions for the business.

    Management accounting information is shared exclusively with others in an


    organization. However when comparing managerial and financial accounting,
    the latter is designed to inform shareholders, investors, and financial institutes
    about the performance of a business for a specified period of time.

    In addition, management accounting is forward-looking, devising ways to


    operate more

    efficiently while providing management with the tools and resources to form
    sound policies and procedures.

    Three common types of management accounting are used:

     Strategic management
     Performance management
     Risk management

    Depending on the circumstances, all three types of management accounting may be


    used simultaneously, or management may choose to only use one or two methods,
    depending on the information they desire.

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