In fact, accountants do spend a lot of time at their desks, but their job entails far more than just adding or subtracting numbers. Accountants are expected to share their ideas and the information they possess with people who need the information. We begin this chapter by looking at the importance of accounting information both to a firm's managers and to individuals and groups outside a firm. We also identify different types of accountants. Finally, we show how ratios are used to measure a firm's financial health.
Accounting is a vital tool used to measure and manage the performance of a business.
Today, accounting systems are often described as the language of business. Now that you have an overview of the chapter, take the practice test to see how much you need to study. Copyright Houghton Mifflin Company . All Rights Reserved.