Finance and Accounting
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The Language of Business: Accounting is the language that translates the economic activities of an entity into understandable numbers. It is responsible for recording, classifying and analyzing financial transactions. Accounting principles, such as the double-entry principle, ensure that each transaction affects at least two accounts and maintains balance in the accounting system. Financial statements, such as the balance sheet, income statement, and cash flow, are essential tools that provide a complete view of the financial health of an entity.
Finance and accounting are two fundamental pillars in the management of any entity, whether it is a company, a non-profit organization or even on a personal level. These fields are interrelated and play a crucial role in making strategic decisions and monitoring financial performance. Below, some key aspects of finance and accounting will be explored.
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