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Accounting is the registration and scheduling of inputs and processes that represent economic events according to a particular system, Financial information used primarily by managers, investors, tax authorities and other decision makers for the purpose of allocating resources within an institution, company, organization or government. Accounting using the word “account” is financial. [Need a source]

Accounting is a science that studies the measurement, delivery and interpretation of financial activities by recording, classifying, summarizing financial operations, presentation and disclosure of financial information through financial statements prepared for a specified period of time (usually every three months). Accounting is also known as the “business language” in terms of its relevance to business activities.

Accounting History

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The origins of accounting science can be traced back to the age of ancient civilizations such as Pharaonic, Greek and Roman civilizations, Accounting is an activity focused on “registration and bookkeeping” known as accounting. Some people have the right to manage their agricultural resources and economy, Provided that these persons log in and out of these resources and issue an accounting statement explaining how these resources are managed. However, The idea of holding economic resources accountable between those who own those resources and those who manage them has existed for a long time. The Italians discovered the two-sided printing system currently in use and mathematician Luke Bachtero in 1494.

Accounting objectives

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In general, the purpose of accounting is to provide financial information, the most important of which are:

  1. The result (profit or loss) of the activities of the economic unit is determined over a certain period of time.
  2. Determining the financial position of an economic unit (company), It is also reflected in the source and use of the Unit’s funds at the end date of that specified time period.
  3. Understanding and calculating the net cash flow of an economic unit for the same period.
  4. Registration of all operations of the economic unit.
  5. provides a means of controlling the financial operations of economic units, Especially currency transactions.

Accounting branches

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If the company distributes its financial statements to the public, They must follow gaap in the preparation of these data. In addition Federal law requires that the company’s financial statements be audited by an independent public accountant if the company’s shares are traded. Each company manager and independent accountant must certify that financial statements and notes relating to financial statements have been prepared in accordance with GAAP, And that the accounting branch varies from branch to branch and each has importance in the establishment, It is usually a facility (industrial, government, banking, Privacy should be concerned with one of the most important accounting branches:

Financial accounting

Financial Accounting is a branch of accounting that provides and presents historical accounting information about financial position (financial position statement), financial performance (income statement) and cash flows in accordance with a set of accounting principles.

Financial accounting is one of the most important branches of accounting science because it records and schedules data on business activities and companies to obtain a set of financial statements through which financial summaries can be collected as scheduled for a specified period of time. General accounting principles and standards, The resulting financial information becomes understandable. It is measurable because it is similar and unified in the way the data and elements it contains are listed.

Collected data and items on these lists help determine and support the financial position of the activity, Based on these financial operations and actual documents such as purchase and sales invoices, Actual users can make appropriate decisions based on the financial situation.

Administrative accounting

In return, Management accounting is undeclared (confidential) information that is used within an organization or company and can only be accessed or displayed by a few users (usually decision makers). It consists mainly of two parts: The first is to get the necessary funding for the company at the lowest possible cost, Whether through bond issuance or by issuing bonds. inventory (by borrowing or raising capital), The second part is to control expenses in a way that balances the company’s objectives and available financial resources by applying the planned budget and examining actual budget deviations and the impact of those deviations on the company. Financial and operational performance.

Cost accounting

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Cost accounting is a branch of accounting that includes collecting, recording and scheduling cost data to provide cost information used by management to plan, control, pricing and decision-making, To help prepare third-party financial statements.

Tax accounting

This is an accounting necessary to apply and comply with the directives and tax laws. or a set of books and documents of the financially relevant institution, which links the company’s relationship with official bodies, With regard to the income of the institution, How individuals and institutions’ income and amounts are calculated.

Government Accounting

It is a branch of accounting that examines the principles governing the process of assessment, registration and accounting reporting of government activities. It is a tool for government managers to control the revenues and expenses of various ministries, bodies and units, Also known as the national general budget. These are approved estimates of the country’s income expenditure and its future period is usually one year. It includes all public spending permitted by the Government in various areas such as public service, security, defence, justice and production programmes.


Photo of a Chinese accountant working in San Francisco in 1892.

Accounting practitioners are called accountants. There are many professional accounting bodies around the world. Many accounting bodies assign titles or membership levels based on qualifications. For example Certified Public Accountant (ACCA or FCCA), Chartered Accountant (FCA, CA or ACA), Administrative Accountant (CMA, FCMA or AICWA), Certified General Accountant CPA, CPA, CIA, CPA, CMA.

Chartered Accountant

A chartered accountant is the person seeking an opinion on the fairness of financial statements, Including dealing with the accounts of various agencies related to funding, cost control, exchange aspects, collection resources and project feasibility studies. Social Security, banks and chartered accountants will be considered crimes if they deliberately spread misleading and incorrect information. CPA/CPA is a credential designed by the American Institute of Chartered Chartered Accountants (AICPA) to identify the scientific content of certification programs, In addition to recognizing and approving publishers for the distribution of various programs, The tests are organized and coordinated with testing centres throughout the United States to provide a global professional certification to industry workers.


Review is an independent profession that has a good understanding of the profession through the science and practical experience of the pain of accountants, where you necessarily evaluate and supervise other accountants in a unit and reports over a period of time, There are two main branches of passing the inspection: Internal and external audit.

Accounting aims to create fair and useful financial reports for managers from government and regulatory bodies, So are other interested parties such as shareholders, creditors or owners.


Bookkeeping is the daily recording of accounting processes in a journal and the classification of each entry by assigning, rotating and posting a number to the general ledger.

It should be noted that the ledgers are different in practice and form, first, All entries are recorded without separating discount and credit entries, While in the general ledger, Each party has a numbered page dedicated to its number, It is mentioned in the magazine.

Accounting in Islamic financial companies

Since Islamic finance companies are private in their financing and operational activities, It is necessary to develop the principles and standards of sharia and accounting for these financial companies to ensure that their work remains under the control of purely Islamic law. Moreover, Audits of these companies are not limited to the absence of physical errors, accounting data, However, it is the task of accounting auditing to ensure that these companies have implemented the requirements and decisions of the shariah body of these companies. Hence, the Accounting and Audit Authority for Islamic Financial Institutions in Bahrain emerged in 1990 to regulate accounting standards used by Islamic financial companies, Whether it’s banks. or insurance companies, brokerage firms, microfinance or any other financial activity.

Professional certificates in accounting

Each country determines an agency that issues the certificate of chartered accountant, It authorizes the holder to perform legal accounting work in its territory. The most famous of these certificates are CPA, US CPA, UK Chartered Accountant and UK CPA. Because there are track certificates in various areas of accounting and auditing, including:

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