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define accounting 618955

  1. Define accounting.
  2. What is an accounting information system?
  3. What are the broad purposes of an accounting system?
  4. What are the important financial characteristics which are of common interest to users of information?
  5. What are the categories of users of financial accounting information? Give two examples to each category of users.
  6. What are the branches of accounting?
  7. What is meant by hybrid basis of accounting?
  8. Explain the cash basis of accounting.
  9. What is accrual basis of accounting? Mention two advantages of accrual basis of accounting.
  10. Distinguish between the accrual basis of accounting and the cash basis of accounting.

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