It has been said that the only thing that’s constant is change, and if you’ve been in business for any length of time, you know how true this is. If there’s one thing that sets companies that have been successful over the long haul-think IBM, General Electric, Wal-Mart or Microsoft, for example-apart from all the others, it’s their positive reaction to change.
Branches of Accounting, Uses of Accounting and Limitations of Financial Accounting
Accounting vs. Book-keepingBook-keeping concerns itself with the recording (correctly and in a set of books) of those transactions that result in the transfer of money or money’s worth. Whereas accounting is comprehensive in perspective. It extends to classifying, summarizing, presenting and even analyzing accounting information .