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Donald Bowman CPA, MBA

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Business- Department of Accounting



Welcome to Accounting


It has been said many times that “Accounting is the Language of Business”.  All business activities are summarized and recorded numerically.  The summarizations of these transactions are called financial statements and form the starting point for both internal and external users of business information. 

While there are many additional explanations in the foot notes sections of external financial statements, the statements themselves still become the starting point.  Since financial statements are universal in nature (subject to various accounting principles and practices), accounting truly is a universal language and the language of business.

The study of Financial Accounting is the beginning of understanding how financial statements are created and the foundations behind them primarily for usersers external to the organization. The focus to provide information and analysis for internal users of information comes under the category of Managerial Accounting. Accountants are asked to provide organization managers with relative information so informed business decisions may be make. Managerial accounting is primarily a focus from a forward looking business perspective while Financial Accounting is more of a historical perspective.

Intermediate Accounting covers in-depth studies of the Balance Sheet, Income Statement, Statement of Retained Earnings, and Statement of Cash Flows. The framework as set forth by the Financial Accounting Standards Board and some evolving International Financial Reporting Standards are discussed relating to those financial Statements.