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set up repetitive transaction



Accounting is the preparation and analysis of financial records for a commercial company, government, or other organization. It involves the gathering, summarizing and communicating of financial information.

Accounting, also called accountancy, enables decision-makers to interpret financial information and use the results in planning for the future. For example, such data tell executives which products or departments are doing well and which are performing poorly.

“Language of Business”

Business people often call accountancy the “language of business” because they use accounting data in communicating about a firm’s activities. Information provided by accountants helps managers and other executives understand the results of business transactions and interpret the financial status of their organization.

Decision Making

With this knowledge, managers can make informed decisions about such matters as production, marketing, and financing. Charities, churches, colleges, government agencies, and other non-profit-making organizations also use accountancy to keep track of their financial situation.


Bookkeeping is a small but important part of accounting, and there is sometimes confusion between them. Bookkeeping involves recording day-to-day financial transactions and keeping other financial records. Most repetitive bookkeeping is done with computers. An accountant sets up an organization’s overall bookkeeping system.

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1. What do accountants do?

2. Accountants only work in big companies. True or false?

3. Is accounting only to keep records for the tax collector?

4. Accounting can tell which products, services, and departments are profitable. Yes or no?

5. Is financial data more accurate than customer feedback?

6. Why do charities, churches, and government departments need accountants?

7. Are accounting and bookkeeping synonymous? What is the difference between accounting and bookkeeping?

8. Who has more authority or “power”, a bookkeeper or an accountant?
A. Are you an accountant? Do you know anyone who is an accountant?

B. Is accounting easy, difficult, both, in-the-middle, sometimes, oftentimes?

C. How do people become accountants?

D. Do small business owners do their own accounts, or do they outsource it to freelance accountants?

E. Is all accounting done by computers and computer software?

F. What will happen in the future?

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