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CHAPTER 8: THE ROLES OF ACCOUNTING - Coggle Diagram
CHAPTER 8: THE ROLES OF ACCOUNTING
THE PURPOSES OF ACCOUNTING INFORMATION
ACCOUNTING IS THE LANGUAGE OF BUSINESS
A WAY OF RECORDING, ANALYSING AND SUMMARISING TRANSACTION OF A BUSINESS
INTERNAL USER
MARKETING
MANAGEMENT
FINANCE
HUMAN RESOURCES
EXTERNAL USER
CREDITORS
INVESTORS
GOVERNMENT, TAX AUTHORITIES
CUSTOMERS
NATURE, PRINCIPLES AND SCOPE OF ACCOUNTING
FINANCIAL ACCOUNTING
USAGE
PROVIDE INFORMATION TO EXTERNAL USERS
EXTERNAL USERS MAKE DECISIONS ABOUT THE ENTITY
FREQUENCY
QUATERLY, ANNUAL, PER PERIOD
EXTERNAL REVIEW
AUDITORS, REGULATORS
REGULATION
GAAP, IFRS, IAS
PRIMARY AUDIENCE
EXTERNAL
SCOPE
COMPANY WIDE
REQUIREMENT
MANDATORY
FOCUS
PAST TRANSACTION
PURPOSE
COMMUNICATION OF FINANCIAL POSITION
MANAGEMENT ACCOUNTING
USAGE
PROVIDE INFORMATION TO INTERNAL USERS
INTERNAL USERS MAKE DECISIONS ABOUT THE ENTITY
FOCUS
INFORMATION TO AID DECISIONS FOR THE FUTURE
SCOPE
NARROW PER SEGMENT, PRODUCT,.. AS NEEDED
FREQUENCY
AS NEEDED AND ONGOING
PRIMARY AUDIENCE
INTERNAL
REQUIREMENT
OPTIONAL
PURPOSE
DECISION MAKING
THE REGULATORY SYSTEM
ACCOUNTING CONCEPTS AND INDIVIDUAL JUDGEMENT
ACCOUNTING STANDARDS
THE EUROPEAN UNION
OTHER INTERNATIONAL INFLUENCES
GENERALLY ACCEPTED ACCOUNTING PRACTICE
COMPANY LAW
TRUE AND FAIR VIEW
CONTROL OVER TRANSACTIONS
TRANSACTIONS
MAKING PURCHASES
PAYING EXPENSES
PAYING EMPLOYEES
PURCHASING NON-CURRENT ASSETS
MAKING SALES
COMMON FUNCTIONS
HUMAN RESOURSES
STAFFS AND THEIR WELFARE
FINANCE
TRANSACTIONS, CASH BALANCES
SALES AND MARKETING
ORDERS AND ADVERTISING
PURCHASING
RAW MATERIALS OR GOODS
GENERAL ADMINISTRATION
WIDE RANGING
COMPUTERISED ACCOUNTING AND DATABASES
SUPERIOR USAGE OF COMPUTER SYSTEM
SPEED
ERROR RATE
ACCESSIBILITY
EASE OF ALTERATION
QUALITY
PRODUCTIVITY
BULK
POSSIBLE MODULES
PURCHASES
GENERAL LEDGER
PAYROLL
CASH BOOK
SALES
JOB COSTING
NON-CURRENT ASSET REGISTER
INVENTORY
REPORT GENERATOR
INVOICING