Accounting is a field of specialization critical to the functioning of all types of organizations. Accounting often is referred to as "the language of business" because of its role in maintaining and processing all relevant financial information than an entity requires for its managing and reporting processing all relevant financial information that an entity requires for its managing and reporting purposes. Accounting often is referred to as "the language of business" because of its role in maintaining and processing all relevant financial information that an entity requires for its managing and reporting purposes. Accountants often have a specific subspecialization and function at one of several levels. Preparation for the field is provided by secondary schools, postsecondary business schools, community colleges, and four-year colleges and universities. Accounting is a body of principles and conventions as well as established general process for capturing financial information related to an entity’s resources and their use in meeting the entity’s goals. Accounting is a service function that provides information of value to all operating units and to other services functions, such as the headquarters offices of a large corporation. This authoritive encyclopaedic dictionary will be invaluable to a range of students and professionals in the fields of accounting and finance. Entries provide comprehensive coverage of financial accounting, financial reporting, management accounting, direct taxation, indirect taxation, auditing, corporate finance, and accounting bodies and institutions. This dictionary includes a wealth of invaluable added features including worked examples of difficult concepts and expanded feature entries on key topics. Clear, accessible entries give straightforward definitions of the latest financial jargon, making this a valuable guide to the often-confusing world of accountancy terms.
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