Financial Accounting: A Case Study

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INTRODUCTION As a language of business, accounting is a common measuring stick in business. An owner of the business can use accounting information to measure the financial and operational performance of the company. It is usually prepared according to Generally Accepted Accounting Principle (GAAP) which is the most authoritative accounting standards. GAAP requires accounting information to be accurate, relevant and timely which ensures business owners have the best information for making business decisions. Kashoo T. (2014) stated that accounting is essential if you want to be able to grow your business in a way that can be measured and predicted. Having a system of tracking your business' assets, liabilities, and income lets you to make smart,…show more content…
J. et al. (2014), nonfinancial measures such as product leadership, personnel development, employee attitudes, and public responsibility may also be relevant in assessing management performance. Chang E. (2013) stated that "a firm understanding of finances and business performance is crucial for a small business to be successful." In addition, Strauss S. (2013) said that, "managing finances is a challenging process, and many business owners are often unaware of the tools and resources available that can help them make smart decisions and ultimately, improve their bottom line." In order to survive a business, it must have proper accounting, finances and capital risk management. This study entitled, "Effects of Accounting Information System on the Performance of the Registered Businesses in Cavite City" aims to identify how AIS implementation impact the financial performance of businesses and if there is significant difference in the effects of AIS when grouped according to their profile details. The result of this study is expected to encourage other researchers for development of accounting system that is useful for managers or business owners to have organized accounting information that can contribute in the formulation of business strategies and decision

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