DEFINITION
_____ is an information system that measure, process, and communicate financial information about economic entity.
Accounting
_________ is a process with the basic purpose of providing information about economic activities intended to be useful in making economic decisions.
Accounting
_________ refer to accountants as the “eye and ear” of the kings.
Egyptians
is the broadest and is focused on the needs of external users.
Financial Accounting
What is the meaning of AICPA
American Institute of Certified Public Accountant
1. __________ Accounting is based on fundamental principles. It is a body of knowledge that has been systematically gathered, classified, and organized.
Accounting is Science
_________ used “daybook” to record receipts and payments.
Romans
Helps clients follow rules set by tax authorities
Tax Accounting
What is the meaning of ASC
Accounting Standard Council
2. _________ Art requires perfect knowledge, interest, and experience to do a work efficiently.
Accounting is an art
________ used the Islamic Accounting System
Arabs
It involves conduction a careful and diligent study aimed at discovering and interpreting facts.
Accounting Research
What is the meaning of AAA
American Accounting Association
3. _______ because it is used to identify and measure economic activities, process the information into financial reports, and communicate these reports to different accounting information users.
Accounting is an information system
Who is the father of Accounting and Bookkeeping?
Luca Pacioli
Is the examination and review of accounting reports in order to ascertain their fairness, propriety and reliability
Auditing
4. _________ Accounting provides a true and fair view of the financial position and performance of the business.
Accounting is a means not an end