ECONOMICS

Detailed explanation-1: -Answer: Non Examples of accounting are rupees of goods or services, and a list of investments in land, facilities, and building, favorite customers.

Detailed explanation-2: -Identification implies determining what transactions are to be recorded i.e.. items of financial character are to be recorded. For example, goods purchased for cash or on credit will be recorded. Items of non-financial character such as changes in managerial policies, etc.

Detailed explanation-3: -Understanding accounting is important to non-accountants because it helps them in establishing the foundation of accounting processes and procedure, managing individual level of productivity and establishing strategic plans for better understanding of financial reports.

Detailed explanation-4: -Other Examples of Accounting Income tax planning, advising, and reporting. Auditing the financial statements of companies and other organizations. Providing general business advice. Financial planning for individuals.

Detailed explanation-5: -The 3 types of accounting include cost, managerial, and financial accounting. Although 3 methods of accounting are both vital to the healthy functioning of a business, they have different meanings and accomplish different goals.