Account Things (Guide to Basic Accounting)

Accounting provides a means of recording, reporting, summarizing, and interpreting economic data. In order to do this, an accounting system must be designed.A system design should be able to serve the needs of users of the accounting information. Once a system has been designed, reports can be issued and decisions based upon these reports are made for various departments. Since accounting is used by everyone in one form or another, a good understanding of accounting principles is beneficial to all.