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Accounting refers to the processing, measurement and communication of financial data of businesses and corporations. The information gathered is communicated to investors, creditors and regulators in the form of financial reports and statements. Financial statements are developed on a set of generally accepted accounting principles. Auditing, financial accounting, tax accounting, management accounting, etc. are some of the subfields of accounting. Accounting information systems play a crucial role in reducing the costs of storing, accumulating and reporting of managerial accounting information. This book is compiled in such a manner, that it will provide in-depth knowledge about the theory and practice of accounting. The topics included in this book are of utmost significance and bound to provide incredible insights to readers. It will serve as a valuable source of reference for anyone interested in this field.
The world economy refers to the global exchange of goods and services, expressed in monetary units. It also means an aggregate of economic measurements of separate countries. The statistical indicators of employment, industries, energy, transport, etc. are significant for understanding global economy. Economic indicators include gross domestic product (GDP) per capita, gross world product, world median income, inflation rate, etc. Estimation of world economic activities is calculated by converting market valuations of a local currency into a single monetary unit with respect to the purchasing power. This textbook picks up individual indicators and explains their need and contribution in the context of a growing world economy. It elucidates the concepts and innovative models around prospective developments in the crucial areas of international trade, economic systems and development. In this book, constant effort has been made to make the understanding of the difficult concepts of world economy as easy and informative as possible, for the readers.
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