Financial Education - Data as a source of efficient management of corporate financial activity

At the business level, the recording of data that must be registered has a great influence at the time when executives have to make their business decisions. The accounting management is carried out in three steps; the first one is the recording of the financial activity in the company, and in this case the accounting management keeps a record of all the commercial activity that is carried out in a common day in the company.

Generally, in a company all kinds of transactions are carried out that can be expressed in monetary terms and the same must be recorded in the corresponding accounting books of the company.

The second step of the accounting management is the classification of the information, which is a complete record of the business activities; this step usually involves a large amount of data, as it is very useful for those who are in charge of making decisions.

For this reason, the information must be classified into different categories, grouping separately those transactions that receive money and those that issue it.

The last step of the accounting management is the summary of the information, and in this case, in order for the accounting information to be used by those in charge of making business decisions in a company, it must be summarized.