Definition
The process by which financial information about a business is recorded, classified, summarized, interpreted, and communicated to owners, managers, and others.
What is Accounting?
An independent accountant who provides accounting services to the public for a fee.
Accounting standards developed and applied by professional accountants.
What is GAAP (Generally Accepted Accounting Principles)?
A business entity owned by one person, who is legally responsible for the debts and taxes of the business.
What is Sole proprietorship?
What is a Stock?