12-18-2004, 05:05 PM
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hey mates, i read a very good definition of accounting. it is actually formulated by American Accounting Association (AAA)
"the process of identifying, measuring, and communicating economic information to permit informed judgements and decisions by users of the information"
i read it in MANAGEMENT AND COST ACCOUNTING, 4/ed, Colin Drury.
now for auditing as the word it self means to audit, to evaluate, examin, or, authenticate, or endorse some thing. auditing can be for accounts, financial statements, as well as for non financial aspects of business. eg. the marketing departments of good companies conduct 'marketing audit' n then it saudit reports are generated. these r then analysed n discussed with top management including director of marketing, CEO, BoD etc
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FARHAN
live, n let live ...
hey mates, i read a very good definition of accounting. it is actually formulated by American Accounting Association (AAA)
"the process of identifying, measuring, and communicating economic information to permit informed judgements and decisions by users of the information"
i read it in MANAGEMENT AND COST ACCOUNTING, 4/ed, Colin Drury.
now for auditing as the word it self means to audit, to evaluate, examin, or, authenticate, or endorse some thing. auditing can be for accounts, financial statements, as well as for non financial aspects of business. eg. the marketing departments of good companies conduct 'marketing audit' n then it saudit reports are generated. these r then analysed n discussed with top management including director of marketing, CEO, BoD etc
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FARHAN
live, n let live ...
