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 ...
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