The 5 administrative functions of accounting

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Written by Marcial Varela
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Keeping the business accounts up to date is one of the great obsessions of every businessman. This task requires qualified people in the area of ​​accounting. Thus, the figure of the accountant is considered essential to manage, distribute and organize the economic strength of the organization, as well as to carry out financial analyses that help the company to grow. According to the RAE, accounting is "the system adopted to keep accounts and reason in private public offices" or "the ability of things to be able to reduce them to account or calculation."

In short, accounting is the technique that studies the economic and financial activity of companies or organizations. Given its importance in meeting strategic objectives, today we cambodia phone data want to give you basic accounting advice to expand your training in accounting .

Without accounting, companies would have no basis for making long-term decisions. Accounting is responsible for keeping all company receipts and payments under control. In addition to the following tips, stay tuned, because on our course portal we have training in this area.

There are several types of accounting or accounting areas:

Administrative : These are internal reports that serve to judge and evaluate the development of the entity in relation to the objectives set by management.
Cost: This is useful for applying techniques to control and monitor a company's production costs. It indicates the cost of producing a finished product.
Financial: serves to determine profits and losses and provides information on the financial situation of the company. It focuses on preparing financial accounting statements for third parties such as investors or public bodies.
Fiscal: This is related to taxes. Financial documents and reports are prepared according to the tax criteria of each country.
Managerial: Monitors historical financial data as well as the current economy and, using these numbers, makes predictions about the future. It is used internally, analyzing each department, region or product line, to estimate sales expectations, price, cost and workforce needed.