Intro to Business › Section N · Financial information and accounting › Topic N.1
Accounting and the accounting profession
Every business decision that involves money, from pricing a product to lending to a customer, rests on accounting information. This topic explains what accounting produces, who relies on it, who the accountants are, and how the rules changed after the scandals of the early 2000s.
In this topic
- Why accounting made the headlines
- What accounting does
- Two audiences, two kinds of report
- The rulebook and the annual report
- Public accountants
- Becoming a CPA, and private accountants
- Worked example: who does the job?
- How the numbers went wrong
- The Sarbanes-Oxley Act of 2002
- Worked example: which reform applies?
- Common mistakes to avoid
- Key takeaways
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