There is no single authoritative and generally accepted definition of financial accounting, or of accounting in general. It began as a practical activity in response to perceived needs, and for most of its development it has progressed in the same way, adapting to meet changes in the demands made on it. Where the needs differed in different countries or environments, accounting tended to develo…
Financial accounting is the communication of information about a business or other type of organization (such as a charity or government) so that individuals can assess its financial health and prospects. Probably no single word is more relevant to financial accounting than “information.” Whether it is gathering financial information about a specific organization, putting that information…
SAP (Systems, Applications, and Products) in data processing is the leading ERP (Enterprise Resource Planning) business application software in the market today. The software provides a unified platform that allows business processes integration. SAP is developed by SAP AG, a German software company founded in 1972 by five ex-IBM employees. With its headquarters in Germany, SAP has regional off…