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FABM1 Lesson1-3 Function of Accounting

Accounting serves three main functions in business: 1) To fulfill the stewardship function of management and report on how resources are utilized. 2) To provide financial information to help internal and external users make informed decisions. 3) To support the daily operations of the business and provide important financial data to management for planning and control.

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2K views11 pages

FABM1 Lesson1-3 Function of Accounting

Accounting serves three main functions in business: 1) To fulfill the stewardship function of management and report on how resources are utilized. 2) To provide financial information to help internal and external users make informed decisions. 3) To support the daily operations of the business and provide important financial data to management for planning and control.

Uploaded by

Kassandra Kay
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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FUNCTIONS OF ACCOUNTNG IN BUSINESS

Accounting
Accounting
Functions of Accounting in Business
Functions of Accounting in Business
Functions of Accounting in Business
Functions of Accounting in Business
Functions of Accounting in Business
Function of Accounting in Business
(source: FABM Textbook by Tugas-Saledrez-Rabo)

1.To fulfill the stewardship


function of the
management (or owners)
2.To help interested users
comp up with informed
decisions; and
3.To support daily operation
of the business
Tagline/Slogan of the day:

“Money grows on
the tree of
patience.” -Sunlife Financial

Previous Lesson >>> Nature of Accounting

Next Lesson >>> History/Origin of Accounting

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