When searching for the best accounting software, we looked for solutions that are affordable and easy to use. We also looked for time-saving features that take the headache out of small business accounting, such as automated entries, invoicing, bill payments, expense reports, financial reports and reconciliations. Additionally, we looked for software that make it simple to perform advanced tasks, such as built-in financial reports and data syncing, for instance, with point of sale (POS) systems and bank accounts.

Choosing an accounting software doesn't have to be complicated. Here are three questions to focus on when selecting one for your business:

  • How much are you willing to pay?
  • Which features does your business require in an accounting software program?
  • Why do you need accounting software?

Learning objectives

  • After studying this introduction, you should be able to:
  • Define accounting.
  • Describe the functions performed by accountants.
  • Describe employment opportunities in accounting.
  • Differentiate between financial and managerial accounting.
  • Identify several organizations that have a role in the development of financial accounting standards.

Question: Above, in discussing the possible decisions that could be made about an organization, ownership shares were mentioned. Occasionally, on television, in newspapers, or on the Internet, mention is made that the shares of one company or another have gone up or down in price during that day because of trading on one of the stock markets. Why does a person or an organization acquire ownership shares of a business such as Capital One or Intel?

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