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ACCOUNTING IS A LANGUAGE OF BUSINESS

ACCOUNTING: A BUSINESS LANGUAGE

ACCOUNTING IS A LANGUAGE OF BUSINESS


Accounting is a language, a system that communicates information.  It is often referred to as the language of the business, although it is just as important in the operation of government agencies, clubs, colleges and other kinds of organizations.
You probably have some idea already of what the term accounting means. It is frequently used in    every day conversation   to mean “answering for responsibility."   Managers   of business concerns   are answerable to owners, creditors, labor unions and Government agencies etc.  Managers of government units are answerable to chief executives, boards, taxpayers and others. In fact, accounting was developed by people, who were seeking better ways to gather and report useful information about organizations.
ACCOUNTING IS A LANGUAGE OF BUSINESS

All the above functions are performed on the basis of certain well-defined and well-coordinated rules and principles.  An accountant must be familiar with all these rules and principles.  In accounting we will study all these rules and principles. 
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