Business Commons^™

Honors Project, Zachary M. Murray

Honors Theses

Accounting is an essential function of the operation of all businesses. Accounting is a vital function in the internal operations of all businesses because it is used to manage all monetary transactions. The American Accounting Association defines accounting as, “the process of identifying, measuring, and communicating economic information to permit informed judgments and decisions by the users of the information” (American Accounting Association). In the United States, the market size of the accounting industry as measured by revenue is $110 billion (Statista). For as long as humanity has been participating in trade and the process of buying and selling goods …