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Four major functions of accounting are:
Planning - Formulating short and long term plans through financial planning or budgets.
Organising - Establishing the framework so everyone knows their role to achieve or adhere to the overarching plan.
Controlling - Usually at a management level, this is maintaining and evaluating the process to ensure correctness and accuracy.
Decision-making - Ensuring the best possible choice is made to allow the above three functions to be successfully implemented.

Jennifer Wilson
info from http://www.yourarticlelibrary.com/accounting/management-accounting/functions-of-management-accounting-4-functions/52467

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Found this article I found helpful the link is below

Hine Kupa

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An accounting information system takes all the data and figures from an organization's financial records and arranges them into an orderly structure. The accounting information system serves three basic functions: to collect and process data, to provide information to decision-makers within the organization and to see that accounting personnel records information accurately and protects the data.

Collection and Processing

In the collection phase of an accounting information system, accountants or bookkeepers gather and record data from cash sales, receivables, cash purchases, payables and payroll, among other transactions. In computerized systems, the software program processes all the debits and credits into a complete information management database.

Reports for Management

Accounting personnel distribute reports to decision-makers within the organization, such as sales and marketing managers, production managers, financial managers and all department heads. Management uses the information generated from the accounting information system to analyze the organization's current operations and financial condition and make plans and set goals for the future. For example, a balance sheet created from the system can show management, owners, creditors and investors where the organization stands financially at a particular point in time.

Accuracy and Security

Limiting the number of people who have access to the system best accomplishes the third function of an accounting information system -- to ensure that the business maintains correct data securely. The leaders of the organization must decide who that will be. For example, trained clerks, bookkeepers or accountants require access to verify and enter data into the system and generate reports. Other associates of the organization, both internal and external, generally have no need to manipulate the data.

Types of Systems and What's Included

Businesses typically computerize an accounting information system in all but the smallest organizations. Computer users enter data into software programs that complete the calculations and classify and file the entries into the proper categories. The system can then generate various types of reports, depending on the user's request. The information system includes all steps in the accounting cycle, and hard-copy paperwork that proves the transactions, such as work orders, invoices and financial statements becomes part of the system. In smaller businesses, such as a mom-and-pop operation where few transactions occur, the business may maintain the accounting information system manually. Again, the bookkeeper uses the entire accounting cycle and constructs manual reports from the results.

About the Author

Vicki A Benge began writing professionally in 1984 as a newspaper reporter. A small-business owner since 1999, Benge has worked as a licensed insurance agent and has more than 20 years experience in income tax preparation for businesses and individuals. Her business and finance articles can be found on the websites of "The Arizona Republic," "Houston Chronicle," The Motley Fool, "San Francisco Chronicle," and Zacks, among others.

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The Basic Functions of an Accounting Information System

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An accounting information system takes all the data and figures from an organization's financial records and arranges them into an orderly structure. The accounting information system serves three basic functions: to collect and process data, to provide information to decision-makers within the organization and to ...

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Financial accounting. This group records accounting transactions and converts the resulting information into financial statements. Its primary responsibility is to generate financial statements and the related disclosures that fairly reflect the financial results and condition of the organization. Its primary beneficiary is outsiders, such as investors, creditors, and lenders.

Puarava Paiaaua

https://www.accountingtools.com/articles/types-of-accounting-functions.html

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Financial accounting. This group records accounting transactions and converts the resulting information into financial statements. Its primary responsibility is to generate financial statements and the related disclosures that fairly reflect the financial results and condition of the organization. Its primary beneficiary is outsiders, such as investors, creditors, and lenders.

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The aim of any business is to earn profit and remain solvent. Accounting helps the company keep track of its profits or losses. The main function of an accounting system is to prepare financial statements in a company, which helps them keep a record of their revenue and expenses. In order to bring worldwide uniformity in the accounting process, the statements are prepared according to the Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). The four main financial statements that are prepared for accounting information are as follows.

1. Balance Sheet

2. Statement of Cash Flows

3. Income Statement

4. Statement of Retained Earning

https://wealthhow.com/purpose-of-accounting
Candice Tabil

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The purpose of accounting is to keep track of financial information like income, expenses, capital, cash flow, etc. The use of this information can help banks of other financial institutions gain a understanding of the organisations financial position and decide whether to invest of lend money.
https://www.accountingtools.com/articles/what-is-the-purpose-of-accounting.html
Marcus Munro

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The role of the accounting is to tack and provide accurate information for the business for all money passing through. sales, purchases, donations.
Jono masters. https://smallbusiness.chron.com/role-accounting-business-459.html

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"Who's watching the bottom line?"
quote pcg-services.com
We have several key parts the accounting side plays in a business, money in money out.  Often payroll will fall under this area as a business needs to ensure money is available to pay wages and the taxes.  Preparing financial reports, balance sheets and budgets.
Accounts work closely with management to ensure business meet targets. Caroline Franklin

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The purpose of accounting is to provide information to the organisations stakeholders, management, investors and creditors.  Accounting measures and summarizes the activities of the company and communicates the results to management and other interested parties.
https://smallbusiness.chron.com/role-accounting-business-459.html

Managers need accurate and timely financial data to make intelligent decisions, and accountants are the ones who produce this information. While the accounting process collects the data and presents it in various types of reports, the accountants help interpret the meanings of the reports and suggest ways to use these details to solve business problems.

Managerial accounting produces internal reports that are designed for management and are used for decision-making. These reports are modified and adapted to the specific purposes and needs of individual managers and are not usually released to parties outside the company.

A few examples of management accounting reports are aging of accounts receivable, inventory levels, monthly sales and status of accounts payable. Internal accounting reports are also used for the preparation of budgets and forecasts.
Sonja Kruger

Accounting can be classified in two forms: management and financial. Management accounting helps to run the business, while financial accounting reports on how well it's running.

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Accounting consists of two parts, bookkeeping and analysis.
- Bookkeeping helps to provide financial data that aids the effective management of a business
- Analysis is the assessment of the stability, viability and profitability of a business.
A couple helpful links...
https://accounting-simplified.com/financial/introduction/what-is-accounting.html

https://www.readyratios.com/reference/accounting/accounting_analysis.html

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ACCOUNTING IS WHAT?

Language of business

The process of identifying, measuring and communication economic info to allow informed decisions by users

Stef Burling-Claridge

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Course Summary

Accounting 101: Financial Accounting has been evaluated and recommended for 3 semester hours and may be transferred to over 2,000 colleges and universities. This convenient online course offers expert instruction on financial accounting essentials. Take the course at your own pace and use it to apply for transfer credit.

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accounting 101: financial accounting course - online video lessons | study.com

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Accounting 101: Financial Accounting Course - Online Video Lessons | Study.com

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Accounting 101: Financial Accounting has been evaluated and recommended for 3 semester hours and may be transferred to over 2,000 colleges and universities. This convenient online course offers expert instruction on financial accounting essentials. Take the course at your own pace and use it to apply for transfer credit.

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Accounting is important to keep an ongoing financial keeping such as operational expenses, salaries, donations, capital, expenditure, investments, cash-flow, and utilities. When tracked on a regular basis, will result in the creation of a financial history that can be used in many ways.
A helpful link
https://smallbusiness.chron.com/role-accounting-business-459.html

Ashleigh Rees

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This the system in any business for collecting, analyzing and communicating financial information to both internal and external stakeholders.

This link provides a basic understanding of accounting in a business and the functions of accounting.

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I found this link helpful in understanding the importance of accounting in a business enviroment
https://www.youtube.com/watch?v=oAL5zrsR1w8

Julia Millar

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Every business requires accounting. The reason for accounting is to share finical information with stake holders, management, investors and creditors. The purpose of sharing this information is so that these parties can measure and summarise how well the company is doing. Accounting is split up into two parts. One is management and the other financial. Management accounting is what helps run a business where as financial is how well a business is performing.

https://smallbusiness.chron.com/role-accounting-business-459.html

Gracie Carlyle

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Every business involves money so accounts is vital! This requires knowledge in areas such as data entry, assets profits, capital, liabilities current and non-current and also payable accounts.

Kelly Mathers
info from NZDB502

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The three major functions of accounting are:

1. The collection and storage of data concerning a business’s financial activities. The information is gathered from source documents, recorded first in journals then posted to ledgers, either manually or with accounting software.

2. To supply information that can be used for managerial reports, financial statements, strategic planning and decision-making.

3. To provide controls that effectively, efficiently and accurately record and process data

Penelope Rye
info found :https://bizfluent.com/list-6681379-basic-accounting-functions.html

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Running a business requires accurate data about the company's assets, liabilities, profits and cash position. The accounting function provides this crucial information. Accounting plays a significant role in evaluating the viability of investments which enable stakeholders to make smart business decisions.

https://smallbusiness.chron.com/role-accounting-business-459.html