FABM (Accounting to History)

What is accounting?

• Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions.
• Accounting is the process of cooking and preparing food.
• Accounting is the process of creating art and music.
• Accounting is the process of designing buildings and structures.

Accounting is a process.

• method of performing any specific job step by step

• method of performing any specific job disorganized

• method of performing any specific job organized

• method of performing any specific job

Accounting is an art and a discipline.

• recording, memorizing, collecting, and finalizing the financial data

• recording, memorizing, reporting, and finalizing the financial data

• recording, memorizing, classifying, and finalizing the financial data

• recording, summarizing, classifying, and finalizing the financial data

attaining a specific objective

• accouting is a process

• accounting is not mean and an end

• accounting is an art and discipline

• accounting is mean and not an end

accounting deals with financial information and transactions

• finalizes their assets

• finalizes their result for a define period

• finalizes their result for a specificity period

• finalizes their result for a short period

accounting is an information system

• recognized and characterized as store house of accounting

• recognized as store house of information

• recognized and characterized as store house of information

• recognized and characterized as store house of data

What are the Four Aspects of Accounting?

• Debits, Credits, Expenses, Revenue
• Recording, Classifying, Summarizing, Interpreting

• Recording, Classifying, Reporting, Interpreting

• Recording, Classifying, Summarizing, Communicating

writing down of business transaction chronologically

• journalizing
• ignoring
• recording

• memorizing

What is classifying?

• YEAH

• assets, liabilities, stockholder's equity

• assets, liability, owner's equity

• assets, liabilities, owner's equity

preparing the financial statement

• Preparing

• Summarizing

• Recording

• Collecting