Bangor, United Kingdom

Accounting and Economics

Bachelor's
Language: EnglishStudies in English
Subject area: economy and administration
Qualification: BSc
Kind of studies: full-time studies
Bachelor of Science (BSc)
University website: www.bangor.ac.uk
Accounting
Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Accounting
Accounting for the most part, remains a legalistic and traditional practice, almost immune to self-criticism by scientific methods.
Kenneth Boulding (1958, p. 95) as cited in: Edward Stamp, Michael J. Mumford, Ken V. Peasnell (1993) Philosophical Perspectives on Accounting. p. 147.
Accounting
It’s simply to say that managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.
Warren Buffett 1982 Chairman's Letter
Economics
In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.
Ronald Coase, The firm, the market and the law (1988) Chapter 6. A remark on "The problem of social cost" (last sentence).
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