Chapter 1 introduction to accountingWhat is accounting? (slide 1 of 1)Accounting can be defined as:The process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of that information.The objectives accounting? (slide 1 of 3)Primary objective : Provides information for decision makingAccounting has many objectives, including:• if they are making a profit or a loss;• what their business is worth;• what a transaction was worth to them;• how much cash they have; • how wealthy they are;• how much they are owed;• how much they owe to someone else;• enough information so that they can keep a financial check on the things they do.