Accounting To provide a record such as funds paid or received for a person or business. Accounting summarizes and submits this information in reports and statements. The reports are intended both for the firm itself and for outside parties. Investopedia Says: Concise accounting helps management make accurate decisions. Related Terms: Accountant Accrual Accounting Certified Public Accountant - CPA Cook The Books Cookie Jar Accounting Generally Accepted Accounting Principles - GAAP Lapping Scheme Overcast Salvage Value Undercast |