Accounting Model

Accounting Model is set of basic statements, impressions, standards and measures that verify the methods of recognizing, recording, evaluating and reporting an entity’s financial transactions, that is called Accounting Model.

Management Needs and Accounting

Original financial accounting model based on double entry system of book keeping, developed by an Italian merchant named Lucas Pacioli, is basically to fulfil managerial requirements of a trading business. Financial accounting can measure results of a merchandising business on the basis of departments