Definition of Accounting by Different Authors
Definition of Accounting by Different Authors
American Institute of Certified Public Accountants (AICPA): “Accounting is the process of identifying, measuring, and communicating economic information to permit informed judgments and decisions by users of the information." (Source: AICPA, n.d.)
American Accounting Association (AAA): "Accounting is an information system that measures business activities, processes data into reports, and communicates the results to decision-makers." (Source: AAA, The Definition of Accounting)
William R. Scott, author of "Financial Accounting Theory and Analysis: Text and Cases": "Accounting is the process of recording, classifying, and summarizing economic events to provide information that is useful in making business and economic decisions." (Source: Scott, 2012)
D.R. Myddleton and D.S. Smith, authors of "Financial Accounting: An Introduction": "Accounting is the process of collecting, processing, and communicating financial information about an organization to users of the information." (Source: Myddleton & Smith, 2015)
The International Accounting Standards Board (IASB): "Accounting is the process of measuring, processing, and communicating financial information about an organization to support informed decision-making." (Source: IASB, n.d.)
James Jiambalvo, author of "Managerial Accounting: Tools for Business Decision Making": "Accounting is the process of identifying, measuring, and communicating economic information to stakeholders for the purpose of making informed decisions." (Source: Jiambalvo, 2014)
Thomas R. Ittelson, author of "Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports": "Accounting is the art of recording, classifying, and summarizing financial transactions to provide information that is useful for making business decisions." (Source: Ittelson, 2015)
"Accounting is the process of identifying, measuring, and communicating economic information to permit informed judgments and decisions by users of the information." - D. Albrecht, A. Albrecht, C. Stice (2013). Accounting Principles.
"Accounting is the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions, and events which are, in part at least, of financial character, and interpreting the results thereof." - American Institute of Certified Public Accountants (1953).
"Accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions." - Williams, Haka, Bettner, & Carcello (2013). Financial & Managerial Accounting.
"Accounting is the process of identifying, measuring, and communicating economic information to support informed decisions by users of the information." - Horngren, C. T., Sundem, G. L., Elliott, J. A., & Philbrick, D. R. (2010). Introduction to Financial Accounting.
Definition of Accounting by Different Authors
"Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business." - Needles, B. E., Powers, M. A., & Crosson, S. V. (2017). Accounting Principles.
"Accounting is the process of summarizing, analyzing, and reporting financial transactions to provide information that is useful for making business decisions." - Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2016). Financial Accounting: Tools for Business Decision Making.
Paul D. Kimmel, Jerry J. Weygandt, and Donald E. Kieso: "Accounting is the process by which financial information about a business is recorded, classified, summarized, interpreted, and communicated." (Source: Financial Accounting: Tools for Business Decision Making, 7th edition)
John Wild, Ken W. Shaw, and Barbara Chiappetta: "Accounting is the process of recording, classifying, and summarizing economic data to provide information that is useful in making business decisions." (Source: Financial Accounting: Information for Decisions, 8th edition)
Institute of Management Accountants (IMA): "Accounting is the process of capturing, measuring, analyzing, and communicating financial information to support informed decisions and strategic planning." (Source: IMA, The Statement of Understanding of Management Accounting)
"Accounting is the process of measuring, communicating and interpreting financial information about an organization to various users." (Garrison, Noreen, and Brewer, 2014, p. 2) Reference: Garrison, R.H., Noreen, E.W., and Brewer, P.C. (2014). Managerial Accounting. McGraw-Hill Education.
Comments
Post a Comment