Essay about Accounting : The Language Of Accounting

1472 Words Nov 16th, 2016 6 Pages
Among the many language around the world one that is common worldwide is the language of Accounting. It allows us to communicate through financial statements, transactions, and analyzes. The main purpose of accounting is to keep systematic record of a company’s financial transactions, collect financial data, and make analysis. Many companies ask accountants for help to determine whether they have a profit or loss in their firm. The way this is done is through a balance sheet and income statement. The balance sheet shows the value of their assets, and also the nature of their liabilities. The income statement shows the companies their stands on their expenses, stockholders equity, and sales. They can also recruit accountants to make future analysis for how a company should function, and help with decision making strategies (T.). As in any other industry technology has taken over which has worried many accounts. Even though the world has advanced in technology accountants are still the most trusted source, but to continue to be trusted one needs to know the challenges that the future holds. Now in days there are many software and devices that will do the work for them. However, an accountant does way more than just plug numbers in. An accountant gives a company an analysis, a description how the future of your business will do, and what it needs to do. Another positive/negative objective in the accounting industry is unqualified accountants. As stated before technology…

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