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Mind Map Chapter #17 - Coggle Diagram
Mind Map Chapter #17
Accounting
The process of capturing, classifying, summarizing, and interpreting financial events and transactions in order to present management and other interested parties with the data they require to make informed decisions
Managerial accounting
Accounting utilized to provide data and analytics to management within the company to help them make decisions
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Financial accounting
For persons outside the organization, accounting data and analysis are generated
Auditing
The task of examining and assessing the data used in the preparation of a company's financial statements
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Tax accountant
accountant who has received tax law training and is responsible for preparing tax returns or establishing tax strategy
Accounting cycle
The creation and analysis of the primary financial statements is accomplished through a six-step approach
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Ratio analysis
Financial ratio analysis is a method of evaluating a company's financial health by calculating and interpreting financial ratios obtained from its financial statements