Accounting

Accounting is the identification, measurement, and communication of financial information about economic entities to interested parties. Simply put: accounting is the language of business. An understanding of this language can enhance your performance in the business world as management decisions are made within the company or financial decisions about the company are made by outside parties.

The field of accounting is often divided into two parts: financial and managerial. Financial accounting is concerned with reporting the results of operations and the financial position of a business firm to those both inside and outside the firm, including stockholders. Managerial accounting deals with the techniques, controls, systems, and reports used internally by the management of an organization. Other areas of interest in the accounting field include taxation and auditing.