define financial accounting and explain its role in business

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 5Q: Which area of accounting needs a computerized accounting information system the most—payroll, tax,...
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a. define financial accounting and explain its role in business

b. how might accounting information differ at different types of businesses (public vs. private companies vs. nonprofits)

c. how do GAAP impact how we present financial information

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