FINANCE

Finance

Finance

Nature of Accounting Information

Undoubtedly, the accounting concept of how information technology has achieved absolute predominance, eliminating the myopia of registration be considered only as historical facts. We have come to place on the site that corresponds to the intrinsically informative tool that is used to facilitate the administrative process and decision making internal and external.

Different users

The business world increasingly complex, demanding more professionalism in the management of enterprises, it is that organizations have to achieve a prominent position in the economic development of the country to achieve this goal requires, inter alia, have a system of timely and reliable relevant information generated by a good accounting system. (Atkinson 1998)

In all organizations, profit and not the best system of quantitative information that we have is that accounting and reporting is a supra. Flow from its other quantitative information systems, which should meet the needs of different users, who visit the companies' financial information, to each according to its features, take the right decisions on the organization.

In the definition issued by the Accounting Principles Board of Institute, it was emphasized that the objective of accounting is to facilitate decision making for different users to not meet that goal; accounting would lose its raison. (CPA finder 2005)

Define accounting as a technique used to produce structurally systematic and quantitative data, expressed in monetary units, of transactions carried out by an economic entity and certain identifiable and measurable economic events that affect it, in order to provide stakeholders decision making in relation to that economic entity."

As mentioned, the accounting serves a set of users. There are various branches of accounting, all members of the supra information. We will consider the financial accounting, administrative and fiscal.

The Managerial Accounting is an information system to serve the needs of the administration, pragmatic approach to facilitate the functions of planning, control and decision making. Tax Accounting is an information system designed to comply with tax obligations of organizations.

The Role of Accounting Information

Prospects for financial reporting

As a tool of management, financial reporting will remain an indispensable means to evaluate the effectiveness with which the administration manages to keep intact the investment of shareholders and obtaining a fair return additionally. The financial information will remain the strongest support for making business decisions; remember that higher quality information, it is most likely to succeed in the decisions. (Cotton 2005)

But to achieve the quality ...