Give two uses of accounting as …

Accounting as a Source of Information:

 Accounting is regarded as the language of a business. It is used as a means of communication between a business organization and its shareholders. The accounting process is a source of information, it uses business data and processes it to generate relevant information

Accounting is regarded as the language of a business. It is used as a means of communication between a business organization and its shareholders. The accounting process is a source of information, it uses business data and processes it to generate relevant information.

• The accounting records business transaction which is the source of generating information.
• Proper accounting system makes information more reliable.
• Accounting ensures it is a reliable source of information.
• Accounting works as a management information system to the organization. It helps the management to manage the organization in a proper way.
• Accounting system generator various information in the form of different accounts. These documents have to be to true and fair.