For several years now, accounting and financial information systems have undergone an important evolution from the first concepts based on equity control to the most current predictive systems. From the perspective of the oldest systems to the most current ones, the fundamental and main objective of accounting was the establishment of responsibilities emanating from the administration of a non-owned patrimony; the "accountability" of the manager to the owner of the company was the main object of accounting. Under this consideration, the aspects of records and control constituted the foundation of this discipline.
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Nowadays, in the most advanced systems, accounting is an economic discipline whose main objective is to elaborate and communicate useful information for the decision making of the internal and external users of the company, these data will be in charge of informing about basic aspects of the economic-financial conditions of the company, such as the composition of the patrimony and its performance over the years, as well as the results obtained from the activities developed and will serve as a basis to describe its evolution. In consideration, it can be inferred that accounting information systems have evolved over time, going from a control system to a predictive one.
Based on the above considerations, Muñoz (2008) defines accounting as "the information system responsible for identifying, measuring and communicating economic information to enable documented decisions and judgments to the users of the information". In short, it is recognized as a set of results that allows the company's stakeholders to make decisions to buy, sell or hold shares, lend money, collect taxes, grant subsidies, commercial or labor relations and the newest of today as investments in cryptocurrencies. In such a way to maintain control over the financial movements of the same.
It should be noted, that the primary purpose of accounting is precisely to elaborate and provide information through financial statements such as the Statement of Economic Position formed by the equity equation (Assets = Liabilities + Capital) and the Income Statement integrated by the (Income - Costs and Expenses) to communicate economic-financial information in a given time and period as required by the shareholders that serves to make useful and vital decisions.
In the same way, the statement of financial position shows the assets (goods and rights owned by the company, liabilities (debts and obligations of the organization and the equity (which is the conformation of the company's patrimony). Therefore, they show the evolution of the company during a given accounting period and all the executive decisions taken by its managers.
It is also worth noting that the environment in which cryptocurrency businesses operate is as dynamic as the economy of a country. Therefore, for an entrepreneur it is of utmost importance and vital to make decisions quickly at the speed with which the economy grows in order not to be left behind. For this reason, financial information must be reliable and of high quality in order to meet its stated objective.
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bibliography consulted:
1.- Muñoz, J. (2008). Financial Accounting. (1st ed.). Editorial PEARSONEDUCACIÓN, S. A. Spain.