TACC203

Financial Accounting Revision Notes Accounting -System that collects and processes (analyzes, measures, and records] financial information about an organization and reports that information to decision makers. Accounting entity -Is the organization for with financial data are to be collected. The four basic statements: -1. Balance Sheet 2. Income Statement 3. Statement of Retained Earnings 4. Statement of Cash flows Balance Sheet -Reports the amount of assets, liabilities and stock...