Accounting Definition

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	A Few Related Terms


	GAAP Balance Sheet Income Statement Depreciation


	Accounting Term category: Finance/Accounting In 10 words or less: The record of financial activity for a company.


	Definition: Accounting is a field that is responsible for generating financial reports about a company's performance and financial health. These reports are used both in-house and by outside parties. StockJargon Advice: When it comes to investing, accounting is one of the most important fields to learn because it's important to be able to read financial statements. Accounting in the US follows Generally Accepted Accounting Principles (GAAP). Managerial accounting is used by people within the company to make financial decisions, while financial accounting is typically used by outside investors and lenders.


	Related Articles


	Corporate Earnings Learn how companies report their earnings and how to use this information to decide what stocks to invest in… How to Read an Annual Report This brief page guides you through how to read a company's annual report. Beginner's Guide to Financial Statements The SEC has put this page together to help investor's navigate the various financial statements.


	Related Books


	The Interpretation of Financial Statements by Benjamin Graham How to Use Financial Statements by James Bandler How to Read a Financial Report by John A. Tracy Finance for Non-financial Managers by Gene Siciliano


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