The accounting process begins and ends with people making decisions.

Question

Quizplus · Accepted Answer

The accounting process is a cycle that involves people making decisions at every stage, from gathering financial information to analyzing, recording, and reporting it. The decisions made by accountants and financial professionals affect the accuracy and completeness of financial statements, which help guide the decisions of investors, lenders, and other stakeholders. Therefore, the accounting process is fundamentally driven by human decision-making.

The Accounting Process Begins and Ends with People Making Decisions