Accounting is one of the main activities carried out by professionals in the accounting field. It consists of the systematic and organized recording of all financial transactions carried out by a company, with the aim of maintaining accurate and reliable control of the organization's equity situation.
To carry out bookkeeping, the accountant must follow the rules and accounting principles established by the Federal Accounting Council (CFC), which aim to ensure uniformity and transparency of accounting information.
Among the main accounting standards used in bookkeeping, we can highlight:
- Entity Principle: the company is considered an entity distinct from its owners, and should be treated as such in accounting;
- Principle of Continuity: the company is considered an entity in constant activity, and must be kept in operation for an indefinite period;
- Principle of Accrual: income and expenses must be recognized when they are generated, regardless of when they are received or paid;
- Principle of Materiality: accounting information must be relevant and faithfully represent the company's equity situation;
- Principle of Consistency: accounting information should be consistent over time, allowing comparison between different periods.
In addition, bookkeeping must follow the specific accounting standards for each type of company, such as publicly traded companies, which must follow the standards established by the Securities and Exchange Commission (CVM).
Among the main documents used in bookkeeping, we can highlight:
- Diary Book: daily record of all financial transactions carried out by the company;
- Ledger: an accounting record that summarizes the information in the Journal by accounting account;
- Balance Sheet: statement that presents the company's equity situation in a given period;
- Income Statement for the Year: statement that presents the financial result of the company in a given period;
- Cash Flow: statement showing the company's cash inflows and outflows in a given period.
It is important to emphasize that bookkeeping is an activity that requires a lot of attention and precision from the accountant. Any error or omission can compromise the veracity of accounting information and impair decision-making by company managers.
Therefore, it is essential that the accountant has a good knowledge of accounting standards and bookkeeping techniques, in addition to keeping up to date on changes in legislation and accounting practices.
