Accounting involves systematically recording and reporting on a business's financial transactions. It provides oversight agencies and tax authorities with information about a business. Accounting is a key function for most businesses.
A document then discusses stakeholders, who are individuals or groups affected by a business. It identifies internal stakeholders like owners, managers, and employees, and external stakeholders like customers, suppliers, creditors, government, and shareholders. The document outlines the main expectations each stakeholder group has, such as profits and reputation for owners, job security and rewards for managers, and timely payments for creditors.
Accounting involves systematically recording and reporting on a business's financial transactions. It provides oversight agencies and tax authorities with information about a business. Accou…