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Every business needs to have basic office accounting procedures in place. Accounting is the foundation of … More
Basic accounting involves taking daily financial transactions and properly classifying them, summarizing t… More
Accounting is important for allowing a business or organization to understand its financial perspective. L… More
Common accounting terms include "payable" and "receivable," which describe money being owed to someone els… More
Managerial accounting is a branch of accounting designed to structure the financial obligations of managin… More
The difference between accounting and bookkeeping is that bookkeeping is the recording of a financial tran… More
To run a business and even some households, it is necessary to keep good records of all financial happenin… More
Every accounting transaction will always require recording a credit and a debit. Make accounting easier by… More
In the management of a company's finances, the relationship between spending expenses and profitability is… More
You work out of your home office, but it is a complete wreck. Financial records and credit card receipts … More
Record keeping is important for a small business because it's important to be able to access information i… More
Functions of an accounting department include receipt of money, paying bills, payroll, recording and track… More
Small-business accounting does not have to be complicated, nor do you need to purchase expensive software … More
Accounting is important to report financial information about world markets, the economy and the state of … More
Accounting is one of the necessary components of every business and personal life. It is also one of the m… More
Summary: Accounting is important for allowing a business or organization to understand its financial perspective. Learn how accounting helps managers and owners make important financial decisions with information from an accounting professor in this free video on accounting.
Shawn Jones is an accounting professor at Argosy University in Salt Lake City, Utah. He has been been an accountant for more than five years.read more
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"Hi, my name is Shawn Jones, adjunct professor here at Argosy University. Today, we're discussing the topic of accounting and why it is needed. Basically, without accounting, a company or a business or organization isn't going to know or understand where it is from a financial perspective without its accounting department. Can you imagine being able to pay your employees or pay the bills that are needed or receive the money that the company has earned without knowing what bills to pay or how much money the company has to receive or how much it needs to pay its employees? Without the accounting department, there could be chaos. While some in marketing and other operation or sales functions may not see the accounting department as something that is needed, it is vital for being able to help managers and owners be able to understand where the company is at and where it needs to go from a financial perspective. For more information about this topic, please visit our website at argosy.edu. There you can find our phone number or an address to come and visit our Salt Lake City campus."
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