Businessweek Archives

Accounting Basics


Accounting — often called the language of business — is the process of recording, classifying, reporting, and analyzing financial data. And while the accounting requirements of every business vary, all organizations need a way to keep track of their money. Unfortunately, there’s very little that’s intuitive about accounting. Many small businesses hire accountants to set up and keep their books. Other companies use accounting software like QuickBooks, CheckMark Multi-Ledger, and M.Y.O.B. Accounting and keep their accounting functions in house.

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