Financial accounting and reporting
Financial accounting and reporting

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Financial accounting and reporting

1 Definitions of bookkeeping, accounting and reporting

First of all, you need to be aware of some of the basic terminology in this subject area. There are several different terms in common use under the general umbrella of accounting and they are often used by people interchangeably without distinguishing the meanings of these terms. Some of the most important are considered in this section, namely bookkeeping , accounting and reporting .

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