Business, Management and Accounting
8 years ago

Understanding Financial Accounting: Key to Assessing Economic and Social Impact.

Basic Conventions of Financial Accounting
George Irvin

Paper Summary

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The article explains the basic accounting conventions used to assess a firm's financial profitability. It simplifies complex company accounts to help project analysts extract necessary data. It emphasizes the distinction between private and national financial profitability. The economist needs to analyze projects from various perspectives, including the firm, government agency, and overall government finance implications.