The Nature Of Accounting Information About Economic Resources
- Topics:
- Financial Statements
- Tags:
- Accounting,
- Operational Planning,
- Operational Accounting,
- Financial Services,
- Finance,
- Business Operations,
- Asset Management,
- Asset,
- Accounting Information,
- University Of Tulsa
- Source:
- University of Tulsa
FREE Registration is required
Overview: Resources are optimally used by organizations in the creation of new wealth. The purpose of accounting is to assess the financial position of the organization and accordingly engage in future financial planning. Accounting information beckons investors to assist in firm building by investing in the organization. Assets are future economic benefits visualized as a consequence of past transactions. The paper argues that not all economic resources are assets. It highlights some practical problems involved in reporting and measuring current assets. In this context, it examines the concept of balance sheet.
(Is this item miscategorized? Does it need more tags? Let us know.)
Format: HTML | Size: 172KB | Date: Jan 2003 | Pages: 22
