The concept and characteristics of accounting. Review basics of controlling the profits and losses of the organization. The study of the statement of cash flows. Measurement of total assets. Budget planning in the enterprise; especially decision-making.
Ministry of Higher and Secondary Education of the Republic of Uzbekistan Tashkent State Economic University Accounting in organization Finished: Group EC-25 Teshabaev Farrux Introduction Accounting is the systematic development and analysis of information about the economic affairs of an organization. This information may be used in a number of ways: by the organizations managers to help them plan and control the organizations operations; by owners and legislative or regulatory bodies to help them appraise the organizations performance and make decisions as to its future; by owners, lenders, suppliers, employees, and others to help them decide how much time or money to devote to the organization; by governmental bodies to determine how much tax the organization must pay; and occasionally by customers to determine the price to be paid when contracts call for cost-based payments. Accounting provides information for all these purposes through the maintenance of files of data, analysis and interpretation of these data, and the preparation of various kinds of reports. Most accounting information is historical-that is, the accountant observes the things that the organization does, records their effects, and prepares reports summarizing what has been recorded; the rest consists of forecasts and plans for current and future periods. Accounting information can be developed for any kind of organization, not just for privately owned, profit-seeking businesses. One branch of accounting deals with the economic operations of entire nations. The remainder of this article, however, will be devoted primarily to business accounting. 1. Company financial statements Among the most common accounting reports are those sent to investors and others outside the management group. The reports most likely to go to investors are called financial statements, and their preparation is the province of the branch of accounting known as financial accounting. Three financial statements will be discussed: the balance sheet, the income statement, and the statement of cash flows. The balance sheet A balance sheet describes the resources that are under a companys control on a specified date and indicates where these resources have come from. It consists of three major sections: (1) the assets: valuable rights owned by the company; (2) the liabilities: the funds that have been provided by outside lenders and other creditors in exchange for the companys promise to make payments or to provide services in the future; and (3) the owners equity: the funds that have been provided by the companys owners or on their behalf.
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