THE IMPORTANCE OF FINANCIAL ACCOUNTING IN HUMAN LIFE
Keywords:
Financial Accounting, money, finance, income.Abstract
There is a fact that no one could deny in our world, and this fact is about the significance of money, its crucial role in any sphere, in the past, present and future, the usage of it in personal life, in businesses, in families, in organizations and even in countries budget papers, its flow, from where come, where go, its numbers, how much is this; and all of these details assist to identify and show how Financial Accounting can be so essential in our life. Well, after this, certain questions occur in our mind. In this article the importance and role of Financial Accounting will be analysed.
References
International Accounting Standards Board (IASB). (2007). International Financial Reporting Standards (IFRSs): Including International Accounting Standards and Interpretations. London: IASB.
Iov, D., Mihai, V., & Străoanu, B. (2009). The accounting of the economic entities, between rigours and options. Romanian Economic and Business Review, 4(4), 7–17.
Spiceland, J. D., Thomas, W., & Herrmann, D. (2019). Financial Accounting (5th ed.). McGraw-Hill Education.
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2021). Financial Accounting (11th ed.). Wiley.
Nicolaou, A. I. (2000). A contingency model of perceived effectiveness in accounting information systems: Organizational coordination and control effects. International Journal of Accounting Information Systems, 1(2), 91–105. https://doi.org/10.1016/S1467-0895(00)00006-3
Burns, J., Scapens, R. W., & Turley, S. (1991). Accounting and control: A case study of resistance to accounting change. Management Accounting Research, 2(2), 119–143.
Borthwick, A. (1990). Enterprise resource planning: Integrating accounting and business processes. Journal of Information Systems, 4(2), 45–58.
McCarthy, W. E. (1987). Accounting information systems: Research directions and perspectives. Journal of Information Systems, 1(1), 29–32.
Smith, M. B., & Begemann, E. (1997). Measuring associations between working capital and return on investment. South African Journal of Business Management, 28(1), 1–5.