Can you explain the answer of this question below:Which is the last step of accounting as a process of informationA:Preparation of financial transactionB:Analysis of informationC:Communication of informationD:Recording the transactionThe answer is C.

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The accounting cycle, also commonly referred to as accounting process, is a series of procedures in the collection, processing, and communication of financial information.

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Communication of information is the last step of accounting as process of accounting information... Communicating the information is very necessary for the outsiders so they can look over the affairs and working efficiency of the business..

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The accounting cycle is started with balance sheet opening- business transaction - journal - ledger - subsidary books - trail balance - final accounts - communicating information.... so. correct answer is c

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The last step of accounting is communication of information. Because if a business want to do progress then it will communicate its quality information in the market to get more orders and it is last process for saling its product.

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It all depends on the people who run the business. If the promoters need loans, go for IPOs etc the need for communication arises. Otherwise many people want to maintain confidentiality and make their on own analysis and use it for future strategies.

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Making journal entries,closing the books and final reporting financial information of an organization.

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How it is that

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Communication of information
Communication of information is the last step of accounting as a process of information. It involves presenting the financial information in a clear, concise, and understandable manner to the stakeholders of the business. This step is crucial as it allows decision-makers to interpret and analyze the financial data to make informed decisions.

Importance of communication of information:
- Helps stakeholders understand the financial health of the business
- Enables management to make strategic decisions based on accurate financial information
- Facilitates transparency and accountability within the organization
- Builds trust with investors, creditors, and other external parties

Methods of communication of information:
- Financial statements: such as the balance sheet, income statement, and cash flow statement
- Reports: management reports, auditor's reports, and analyst reports
- Presentations: financial presentations to the board of directors, shareholders, and other stakeholders
- Meetings: discussions with investors, creditors, and other interested parties

Key considerations in communication of information:
- Accuracy: ensure that the information presented is accurate and free from errors
- Relevance: provide information that is relevant to the decision-making process
- Timeliness: communicate financial information in a timely manner to meet the needs of stakeholders
- Clarity: present information in a clear and understandable format to facilitate easy interpretation
In conclusion, communication of information is a critical step in the accounting process as it allows for the dissemination of financial information to stakeholders, enabling them to make informed decisions that drive the success of the business.

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Which is the last step of accounting as a process of information

Which is the last step of accounting as a process of information

total assets 1,50,000 creditors for goods 90,000 creditors for expenses 15,000. find out capital from the following information Related: Recording Of Transactions – I - Accounting Equation Solutions?

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