Good Essay On Principles Of Accounting – Media Summary
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The internet is a universal structure that has interconnected systems and interconnects computer networks that links a lot of devices in the world through the use of the standard Internet Protocol (IP) suite. Primarily, a wide range of information is hosted on the internet. Such information includes personal information, business information accounting information among others. The internet further provides channels through which files can be shared; communication can be completed through the use of various platforms hosted on the internet such as email. Internet, therefore, is a media through which information can be gathered, analyzed presented and reported. The media provides platform though which all these can be achieved. Through the email, for example, company files and other business information can be shared (Needles, Powers & Crosson, 2012). It, therefore, does not require personal touch to conduct business.
Financial accounting is concerned with the collection, analysis, reporting and presentation of financial information that allows decision-making to different interested users of the information. The internet can help students obtained basic principles of accounting that are made available. The basic accounting information that can be drawn from the internet involves the matters that relate to business operations. Through the internet, students can collect financial data that night be helpful in understanding the basic principles of accounting. This information can be the financial information relating to a company or any other organization. Large companies do publish their annual reports in various media platforms, internet included. The published reports contain financial information that might be useful to students in understanding basic elements of accounting. Different companies use the internet for promotional purposes; thus, assisting them to increase their sales and the overall revenue. Data analytical techniques are also available on the internet to assist the users in understanding the various techniques they can use in analyzing the financial data on the internet.
Accounting and financial data analyzed by the business are presented to the relevant users. For most of the large international companies, the financial reports that contain important financial information are made available through the company’s website. Websites are internet domains through which companies share relevant information about their businesses. With the current over 50 billion internet users, companies and businesses have a wide audience to promote their goods and services. Communication of the financial information is possible through the internet. The users of the information can be obtained the information through the company websites which is hosted by the internet or the internet in general. Accounting students find it easier to understand the basics of accounting through the internet. They are able to make a search of any of accounting information that they may need. Internet also provides access to books on accounting subjects that students can use to better their understanding on financial accounting.
Understanding basic accounting can therefore, be a simple task to the students if they use the internet properly. This is because of the availability of large information about the topic accounting. The resources can be accessed at any given time provide the researcher is having a mobile device or personal computers. However, they might be a number of factors that may hinder the efficient usage of the internet by the students in understanding the principles of accounting. One of such hindrances is the vulnerability of the files on the internet to internet virus and hacking that may lead to loss of important business information. In conclusion, the use of the internet by students can expand their understanding of financial information. This can, however, be achieved if the learners effectively use the various platforms available for study without getting into contrary usage (Needles, Powers & Crosson, 2012).
Needles, B., Powers, M., & Crosson, S. (2012). Principles of accounting. Cengage Learning.
Please remember that this paper is open-access and other students can use it too.
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