Question

accounting rule of buisness

Answer 1

Management accounting focuses on the allocation of business costs to goods or services, creating budgets for business functions, and preparing financial information for business decisions. Both types are used to secure external financing or report financial performance to business stakeholders.

Answer 2

Accounting is the mechanism used to record activities and transactions that occur within a business.. ... Theserules are called the Generally AcceptedAccounting Principles (G.A.A.P), and all U.S. businesses are expected to follow them. The first general rule ofaccounting is that every transaction is recorded.