Accounting for Business Practicalities and Strategies (True PDF)

This book is not an introduction to accounting. It is an explanation of how accounting is used for pursuing business success and avoiding failure. All types of organizations keep some form of accounting records, whether it is an international conglomerate or a local charity concerned with the welfare of stray animals. The simple reason is that organizations do not want to go bust and they need to know how they can best understand and control the financial consequences of their activities. In addition, financial information enables organizations to strategize and make decisions that are in line with their mission and objectives. Much of the accounting information these organizations generate is provided to their stakeholders. Certain types of information are mandatory and legally regulated by regulatory bodies. International conglomerates must report to their stockholders, charities to their donors, and governments to the electorate. In this book, we concentrate on for-profit businesses, although most of our explanations and discussions can be applied to many types of organizations.

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