ACCOUNTING , FAC1502, CHAPTER 1 Study guides, Class notes & Summaries

bookkeeping Involves the identification and recording of economic events. Accounting orderly and systematic identification and recording of the monetary value of the economic transactions of an individual entrepreneur(person) or a business enterprise ( entity or institution) , the reporting on the results of these transactions and the provision of financial information by submitting financial statement which information is used as a basis for decision making. Measurement the pro...