Free Accounting papers, essays, and research papers. Essay about accounting profession provide information of past quantitative financial activities and are useful in making future economic decisions. The same financial data is used to derive reports for each accounting process yet they differ in some ways. Financial accounting primarily provides external reports for external users such as stock holders, creditors, regulating authority and others.
There are general rules and concepts that preside over the field of accounting. These general rules, known as basic accounting principles and guidelines, shape the groundwork on which more thorough, complex, and legalistic accounting rules are based. GAAP is exceptionally useful because it attempts to regulate and normalize accounting definitions, assumptions, and methods. From an early age, I have always had a keen interest in the world of accounting.