1. There is interpretation done for every financial record of a corporation by every accountant. There is also interpretation done for every financial transaction of a corporation by every accountant. Futuristic plans for safe and productive financial investments by a corporation are formulated by accountants. There is interpreting done by every accountant with financial information of a corporation. This is an important function. There is also measurement of financial information by accountants. There is also recording of financial information by accountants. 2. There can be calculation of cash flow done by the utilization of accounting statements. There can be budgeting done by the utilization of accounting statements to predict the money required to be spent for a specific time-period. 3. The plan by which income of an organization along with the money to be spent by the organization are forecasted by an organization for a specific time-period is known as a budget. 4. Income taxes of different types of organizations can be filed by the utilization of financial statements. There can be the result of financial performance of an organization reported to an organization’s stakeholders by the utilization of financial statements. There can also be credit obtained by an organization from any lender by the utilization of financial statements. There can be preparation and presentation of annual reports by an organization. 5. There is the source document examined as the first step. For example, there can be checking of receipts of an organization from the utilization of credit cards. There can also be examination of checks. The second step is to record every type of transaction by the accountant of the organization in a journal. The third step is to ensure that every transaction is posted to a ledger by the accountant of the organization. Thereafter, there is a trial balance prepared by the accountant. Finally, there is preparation of all types of financial statements by the accountant. 6. The income statements of all corporations are definitely in the same format. This is