Accounting principles are the theoretical concepts that underlie the practical accounting techniques used to ensure that financial statements accurately portray a company's performance, cash flows and ...

Accounting is a comprehensive system for collecting, recording, classifying, summarizing, interpreting, and communicating financial information. It is often referred to as the language of business as ...

The whole point of accounting is to present a precise financial picture of your business operations. By the accepted standards of the industry, financial accounting consists of five basic elements.