Management and Accounting Compendium Volume II - Third Sector

Accounting is the science that designates the totality of the numerical records carried out in order to determine and sort, in a complete way, all the movements, in value and in quantities, carried out in the sphere of activity of a company or similar entity.Accounting can be divided into financial and business accounting. Financial accounting comprises all payment transactions between the company and abroad (e.g. purchases and sales, bank transactions) and which allows the annual balance sheet to be drawn up for tax and business purposes. Business or cost accounting assumes the use of costing (with its corresponding cost elements, etc.).