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Accounting Assignment Helen Clayfield Emma Carnell Foundation Degree Business Accounting is the practice of "...maintaining, auditing and processing financial information..." (http://en.wikipedia.org/wiki/Accounting) for the purpose of a company, persons or organisation. There are some fundamental parts of accounting which are; "Identifying, measuring and communicating" (Black, 2000). You need to identify the important financial sections of a company, person or organisation which will include the companies assets, liabilities, capital, income and of course expenditure. You will also need to measure "... monetary values of the key financial components in a way which represents a true and fair view of the organisation" (Black, 2000). Finally there is the communication side of accounting, it is vital that a company, person or organisation can communicate all of the financial information gathered so in turn users, whether they are internal or external, will be able to receive the correct financial information and be able follow it. There are two...

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