Relationship of Accounting with other discipline
Relationship of Accounting with other discipline:
(1) Accounting and Economics:-
Economics tells how scarce resources are utilized effectively. For that it is required to analysis the data of resources. Accounting provides major data base for same purpose.
(2) Accounting and statistics :-
In accounts all individual transactions or events are important but in statistics behaviour (i.e. trend analysis, degree of variation over a period). So here statistics methods help accounting to collect data in systematic manner. Statistic techniques like time series, cross-sectional comparison etc. are used for better presentation of accounting data.
(3) Accounting and Mathematics:-
Mathematics helps accounting in numbers of ways like calculation of interest, annuity to find out installments etc.
(4) Accounting and law:-
Business enterprises require complying so many laws and
making its accounting to comply their
requirement. Partnership firms require to comply partnership act 1932, A company require to comply requirement of company act 2013, and so many other laws like labour laws, MRTP Act, Contract Act, Negotiable Instrument Act, The sale of good Act. Thus transaction and events of accounting are guided by law.
(5) Accounting and Management--
Accounting helps management in decision making process. Accounting data are used by management as basic source documents. Large portion of accounting information are prepared for management decision making.
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Salary of a Qualified CMA
Salary of a Qualified CMA
Best Career Option After Class 12th
Best Career Option After Class 12th
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Why to choose career in "CMA" ?
The Reasons to Choose a Career in "CMA"
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What Is Balance ScoreCard
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