REVIEWER IN ACCOUNTING 1
ACCOUNTING 1 ACCOUNTING- is the process of identifying, measuring and calculating economic transactions that permit informed judgment and information to the users of information THREE PROCESSES OF ACCOUNTING 1. Identifying- this process is the recognition and non-recognition of accountable business transactions 2. Measuring- this process is assigning of peso amount on the accountable business transactions/events 3. Communicating -this process is the preparation and distribution of accounting reports to potential users of accounting information USERS OF ACCOUNTING 1. Owner. interested to know whether he is getting fair return on his investment 2. Management . Interested in the accounting information that serve as the measure for making future decisions and measure of effectiveness. 3. Investors. Interested in the accounting information to determine whether to acquire ownership on the business/firm 4. Creditors. Interested in