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Accounting : - Coggle Diagram
Accounting :
What I learned
Accounting is used in every day life
Used by both families and Businesses
I learned how to do many different accounts
Learned new Accounting language
Who needs Accounting
Business
Profit/ Loss
Revenue Taxes
Yearly records e.g - compare to past years
Governments
loans
recession
show the countries financial stability
Everyday people
ATM- shows the input and output from a debit card
Can show money coming in and out. E.g wages
Why is accounting needed
Managing money
Knowing how much can be spent
Records
law
Financial Stability
Knowing yearly profit/loss
My expectations this semester
Learn how to do accounts
Learn about taxes
Learning where accounting is needed
When is Accounting needed
Investing
Everyday
Business
Managing a Business
Profit/Loss
Cash available for company growth
Success
Making decisions
Where can there be changes to improve cash inflow
Spending too much?
Financial accounting definition
my definition
The process of keeping accounts to manage input and output of money.
Accounting definition
Process of identifying, measuring and communicating economic information to permit informed judgments to whom the data is available to.
What helped me learn
Going through the accounts step by step
Studying the Accounting notes
Accounting difficulties
Getting new accounts done perfectly
Learning online
Learning accounting language