Accounting as an information system

• Autor(a) principal: Caria, Ana
• Data de Publicação: 2016
• Outros Autores: Silva, Anabela Martins, Gomes, Delfina, Oliveira, Lídia
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: https://hdl.handle.net/1822/84876
• topic: Ciências Sociais::Economia e Gestão; Social Sciences

This chapter aims to provide, for all those that pursue a managerial career in the private industry, public sector, government, technological and engineering area, the “core” concepts, principles, rules and techniques of the accounting area. Positioning accounting within its broader social, economic and historical context, this chapter provides useful insights concerning the needs of different users of accounting information and provides a clear understanding of the differences and complementarities between financial and management accounting. In detail, the chapter defines accounting; analyses the evolution of accounting from mediaeval times to present; identifies the users of accounting information and their needs; identifies the objectives of financial reporting; identifies the qualities that make financial statements useful; defines the basic elements of financial statements— assets, liabilities, equity, income and expenses; provides an understanding of the accrual basis and going concern assumptions which underlie the preparation of financial statements; explains the nature and purpose of accounting standards; and introduces the financial statements that appear in a set of published accounts. To complement, the main concepts of management accounting and the distinctiveness and usefulness of the information it provides for decision-making are described.