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e. Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and ...
An upper-level accounting professional who directly oversees one or more accounting specialists. Similar to an accounting manager, they are usually subordinate to the manager, or report directly to the controller or CFO. In addition to their supervisory role, they will be responsible for monitoring and approving the financial processes and reporting of their department. [3] [4]
In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions.
The term "organizational structure" refers to how the people in an organization are grouped and to whom they report. One traditional way of organizing people is by function. Some common functions within an organization include production, marketing, human resources, and accounting.
A staff function supports the organization with specialized advisory and support functions. [3] For example, human resources, accounting, public relations and the legal department are generally considered to be staff functions. [4]
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. [1] It involves preparing source documents for all transactions, operations, and other events of a business. Transactions include purchases, sales, receipts and payments by an individual person or an organization ...
Financial accounting is a branch of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. [1] This involves the preparation of financial statements available for public use. Stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders are ...
In general the Record to Report function is not engaged in processing transactions, but rather the aggregation of existing data in computer systems to enable meaningful performance reporting to be prepared for management. However, the R2R function may be a part of a broader accounting department.