HOW CAN ACCOUNTING INFORMATION BE CLASSIFIED?


CLASSIFICATION OF ACCOUNTING INFORMATION

Accounting information may be classified in different ways such as on the basis of purpose of information, on the basis of measurement criteria etc. The various types of accounting information are as follows:

(a)       Accounting information relating to financial transactions and events. This includes information about financial position, financial performance and information about the changes in financial position which is primarily provided by statement of financial position, income statement and statement of cash flows respectively.
 
(b)       Accounting information relating to cost of a product, operation or a function
 
(c)             Accounting information relating to social effects of business decisions
 
(d)            Accounting information relating to human resources

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