What you’ll learn to do: define accounting, and explain its role as a form of business communication

How businesses express their financial health and stability is by presenting an “accounting” of all their financial transactions. In this section you will explore in depth what accounting is and the vital information it communicates about the business.

The specific things you’ll learn in this section include the following:

• Define accounting
• Explain the role of accounting as a form of business communication
• Identify the users and uses of financial accounting
• Identify the users and uses of managerial accounting