Submitted by 7898521 on January 11, 2008

• Category: Business
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Overview Of Accounting

Overview of Accounting
Introduction
One of the most significant tools, or pieces of information, available to managers today is business data such as financial statements and managerial reports. If there is any decision worth making in business, it is worth making it with the appropriate data to back it up and base it on. Oliver Wendell once said, “The significance of facts is more important than the facts themselves, and if accountants know the significance, people may even forget the facts” (Coleman, 1949, 1). One of the most valuable services that accounting can give to management is to help accomplish their objectives by preparing and interpreting essential data....

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