personal financial advisor

Accounting is the business of recording a company’s transactions and at the end of a period communicating that information to interested parties these interested parties are also called users who are these users these interested parties interested parties are those who have a stake in the company’s financial health these parties could be investors because they invested money in the business and are interested in if they’ll get dividends they can be creditors because they’ll earn money and are very interested in ensuring that they get repaid there could be government agencies and of course the most famous government agency of all the IRS could be very interested in your business profits before we go on though.

I want to give you a broad feel for accounting overall accounting can be broken very broadly into two categories they are financial accounting and managerial accounting what’s the difference financial accounting caters for external users that’s the key word people outside the company managerial accounting deals with internal users key word internal that’s managers within the company this difference is very important you’ll see that as we progress with the course from a work perspective accounting can also be classified into public accounting and private accounting you may have heard these terms before what’s the difference with public accounting and private accounting public accounting mainly relates to the work of auditors auditors of course do auditing and they also provide advice on tax and they also act as management consultants.

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