Define some of the major characteristics of accounting. Why is accounting important to the non-accountant?© BrainMass Inc. brainmass.com June 3, 2020, 9:30 pm ad1c9bdddf
Key Characteristics of Accounting:
This implies the expression, with clarity, of accounting information in such a way that it will be understandable to users - who are generally assumed to have a reasonable knowledge of business and economic activities
This implies that, to be useful, accounting information must assist a user to form, confirm or maybe revise a view - usually in the context of making a decision (e.g. should I invest, should I lend money to this business? Should I work for this business?)
This implies consistent treatment of similar items and application of accounting policies
This implies the ability for users to be able to compare similar ...
Define some of the major characteristics of accounting? Why is accounting important to the non-accountant?