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Accounting is an information system that identifies, records, and communicates the economic events of an...

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Accounting

Accounting is an information system that identifies, records, and communicates the economic events of an organization to interested users. Accounting systems focus on business transactions economic events that have an impact on one or more component of the accounting formula. Many other events take place that can significantly impact a business, even if they do not directly impact the accounting formula. Is accountings focus on economic transactions a strength or a weakness?

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