Accounting is
concerned with collecting, analyzing and communicating financial
information. The purpose is to help people who use this information to
make more informed decisions. If the financial information that is
communicated is not capable of improving the quality of decisions made,
there would be no point in producing it. Sometimes the impression is
given that the purpose of accounting is simply to prepare financial
reports on a regular basis. While it is true that accountants undertake
this kind of work, it does not represent an end in itself. The ultimate
purpose of the accountant’s work is to give people better financial
information on which to base their decisions.
