Middle Managing Accounting Knowledge

Accounting necessary for Profit-seeking firms and for non-profit organization such as scools,hospitals,parties and units of governments. Accounting is divided to managerial accounting , finanical accounting , auditing and tax accounting ; all of these are the key areas of accounting.

Accountability is the recording , classifying , summarizing , and interpreting of financial events and transactions to provide management and other intersted parties the information they need to make better decisions.Accounting system is the methods used to record and summarize accounting data into reports .Software can continuously analyze and test accounting system to be sure they are functionally correctly. Computers can help decisions making by providing appropriate information , but they can not make good finanical decisions independently .

Accounting creativity is still ahuman trait .

 On history pointview , viroens using simple acountency in managing eygpt kingdom economy affairs .Ra'h king use Prophet Jusif (Israeli Man) in managing the money of kingdom ; he use his prophetency in planning the expected expenses along the future.

Muslims used accountency basics of knowledge they gains by Holly-Qura'n which invite them to be more fear in they judgement and measuring things ;In Iraq for example ibn alhaitham engeneerer using accounting standards in his engeneering services provided to Islamic State Central Management at that time .

What is Knowledge :

Knowledge is organized and understandable information applicable to problem solving or decision making .

What are the Knowledge Conditions :

1. Truths .
2. Beliefs.
3. Concepts.
4. Judgements.
5. Expectations.
6. Methedologies.
7. Know-How .

Financial Data that collected from internal environment and external environment for establishments needs to transfering it to information by using technology tools like computer softwares inorder to prepare systematic informatics capable to read and judgement . The accumulated of these information in seperated syestems make the whole system of firm which called knowledge .

Accounting Knowledge of firm is the micro-economy experience of firm and accumulated accounting information that reported before . Managerial Accountents using the outputs of Accounting Information System (AIS) as a part of Firm Systems like Financial Information System and Manufacturing Information System for Factories ; so ; the managing of accounting knowledge that  produced by AIS from A2Z could expresed by the full accounting cycle technical procedures follows :

1. Analysing and categorizing documents.
2. Putting the information into journals.
3. Posting the information into ledgers.
4. Preparing trial balance which is totalling all the depit balances and all of the credit balances in the ledgers to be sure debits=credits; and correct if they aren't.
5. Preparuing financial statement and balance sheet.
6. Preparing Cash-Flows statement for operating , investment and financing activities.
7. Analyze financial statements and evaluate financial condition and future position of the firm .