What is business accounting?

Business accounting is the systematic recording, analysing, interpreting and presenting of financial information. Accounting may be done by one person in a small business, or by different teams in large organisations.

Accounting is the way a business keeps track of its operations. Accountants analyse the business finances so the owner can make better decisions. This information is organised into reports that show the financial health of a business.

Accounting helps business owners meet their compliance obligations. It also helps them make smart decisions with their money.

 

Related terms:
What is the objective of financial reporting?

Related Xero feature:
Know your numbers with the online accounting dashboard

Related Small Business Guide:
Why cloud accounting is good for business

Accounting Terms

Accounting terms and how-tos for beginners. Let us walk you through all the basics that you need know.

What is business accounting?

Business accounting is the systematic recording, analysing, interpreting and presenting of financial information. Accounting may be done by one person in a small business, or by different teams in large organisations.

Accounting is the way a business keeps track of its operations. Accountants analyse the business finances so the owner can make better decisions. This information is organised into reports that show the financial health of a business.

Accounting helps business owners meet their compliance obligations. It also helps them make smart decisions with their money.

 

Related terms:
What is the objective of financial reporting?

Related Xero feature:
Know your numbers with the online accounting dashboard

Related Small Business Guide:
Why cloud accounting is good for business

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