Accounting is an extensive recording of financial transactions relating to business. It is important to any business because it is the primary function that help measures a company's profit. Financial statements are prepared using the generally accepted accounting principles (GAAP). It is a detailed breakdown of a company's operations, financial state, and cash flows. In order to accomplish the mission of Durango Manufacturing Company being successful, you should refer to financial management because it refers to the sufficient and effective management of money. Accounting and financial management will be essential to Durango's Manufacturing Company success and stability over the next five years because it will lay out whether the company's
