Accounting enables an entity or an individual to record their financial transactions for a given period. In understanding how accounting works, it is important to know the key phrases and terms applied such as the accounting equation. Through accounting, you can track the transactions and minimize fraud.

Accounting enables an entity or an individual to record their financial transactions for a given period. In understanding how accounting works, it is important to know the key phrases and terms applied such as the accounting equation. Through accounting, you can track the transactions and minimize fraud.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Management Information Systems

While undertaking any business decisions, data is the most important aspect. An information system (IS) is a set of data, computing devices and management methods that support routine company operations. A management information system (MIS) is a specific subset of IS.

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