WHAT IS ACCOUNTING?

ACCOUNTING OPERATIONS IN A COMPANY

GENERAL IDEA

Accounting operations provide all of the transactional support required to ensure that every financial activity undertaken by a firm is in step with its own policies and procedures. Also provides useful information about the financial situation of companies, in addition meet their projections, knowing the profits or losses obtained at the end of the accounting cycle.

MAIN IDEA

* The accounting operations allow developing various reports such as financial statements,

budgets and tax returns for submission to the address

* In monetary terms it allows us to know the financial situation of the company, its actual

assets, liabilities and equity

* accounting operations allow you to collect , interpret and display information related

to the assets and economic resources of an entity.

VOCABULARY

ACCOUNTING: Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business.

OPERATIONS: Operations transform resource or data inputs into desired goods, services, or results, and create and deliver value to the customers.

DEPARTMENT: a department is a center or hierarchical level of administrative, management and execution of work.

INFORMATION :It should be understandable , useful, clear, relevant , reliable, timely , neutral, verifiable and comparable

TRANSACTIONS; are acts of to buy or sell assets, securities or services on credit or cash, raised in a company at a given date

ECONOMIC: It aims to study the facts of an economic nature that occur in the company

PROFITS: economic benefit that increases the assets of my company

LOSSES: It is representing a decrease of part of the assets and rights of the company

CONTROL: check that company operations are running correctly.

CONCLUSIONS

*Used to determine the financial condition of your Company

*Set whether  the operation is generating losses or profits

*Allows quote work correctly determine the costs that will generate an order

*Facilitates obtaing credit support