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Different areas of Accounting Financial Accounting encompasses the external reporting of a company’s financial position and performance. Financial accounting information is used in making investment decisions and is widely used to value businesses and predict corporate success and failure. “.. when . Rupert Murdoch presented News Corporation's full-year results yesterday, the simple bottom line showed a swing back to a $US2.5 billion ($A2.7 billion) profit after last year's $US3.4 billion loss, buoyed by the extraordinary success of the film Avatar and the absence of hefty write-downs that marred last year’s result.” The Age, Fri 6 August 2010
Different areas of Accounting Management Accounting provides information to managers to help them measure and control processes within their business in a successful and profitable manner. It aids managers in strategy implementation, costing of new products and services, evaluation of the value added by different areas of the business and managing their performance. “..up to 30 redundancies at [BRL Hardy’s] Tintara winery in SA as it responds to the drawn-out malaise of the international wine industry. The job losses will mark the second round of redundancies for the winemaker this year. It laid off 40 staff at its South Australian bottling headquarters in March after deciding to shift more of its production to Britain to cope with the downturn.” The Age, Fri 6 August 2010
Page 1: What is Accounting? • An accounta
Page 5 and 6: What do practicing accountants do?
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Accounting (pdf)

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