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Check out terms, trends, benefits and terminology of accounting in modern era. Wednesday, January 12, 2011. The Basic Concepts of Accounting. The principles of accountancy are applied to business entities in these basic divisions -. Accounting that provides information to people outside the business entity is called financial accounting and provides information to present and potential shareholders, creditors such as banks or vendors, financial analysts, economists, and government agencies. I accept paid.CONTENT
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