the purpose of accounting

... Nassima Bouchelkia BND Business year1 ID NO, 317357 tutor, M Hamilton Unit 5, introduction to accounting P1) Introduction, For this task am going to explain the purpose of accounting in a business organisation. Accounting, Accounting is a process of identifying the business financial information, it also relates to keeping all financial records and transactions that relates to an organisation. It also known as measuring and interpreting the business economic information. Accounting used to indentify and represent the information to the internal users such as employees and management and external users such as the government and investors. The purpose of accounting, The purpose of accounting to an organisation is that it provides financial statements for the internal and external users which are used for different purposes such as making decisions. Accounting also used as guide to monitor the business income and expenditure. Additionally is also used to manage cash flow forecast that indicates

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