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Title: Overview of Accounting

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Subject: Business
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Date: September 6, 2001
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Length: 3 / 790
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(McNamara) Even more critical then the creation of, is the use of financial and managerial reports. It is imperative that the small business owner distributed these reports to others within the company who understand how to interpret them, have the authority to make operational decisions, and will review them promptly so as to implement any needed modifications in a timely manner...

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(McNamara) Financial accounting is also used to make informed and ethical business decisions. For instance, should the accounting documents show the available capital for growth, the small business owner may decide that it is a good time to invest in company growth by allocating resources efficiently, maximizing the income potential of the business, and monitoring the results through the accounting documents...

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