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Sunday, January 6, 2013

Accounting towards Automation

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Accounting or accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers in the form of financial statements under the control of management. The principles of accountancy are applied to business entities in three divisions called accounting, bookkeeping and auditing.

Early accounts served mainly to assist the memory of the businessperson and the audience for the account was the proprietor or record keeper alone. Today, accounting is called the language of business because it is the vehicle for reporting financial information about a business entity to many different groups of people.

Those days both management accounting and financial accounting are handled manually with a big accounting staff but by now the technology has developed and many tasks have been given to machines and software with a small staff and sometimes you can manage even with free accounting software. So, in today's context accounting software have been playing a very important roll in providing accounting reports to the people inside the business entity and outside the business entity including shareholders, banks, vendors, financial analysts, economists, and government agencies. This blog has given a little more emphasis to the accounting software and tools since it has become a very useful and handy in today's context of businesses irrespective of the size and nature to make money management easy. So you can find very helpful articles relating to accounting software and money management techniques.

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