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what is the relation of accounting subject with other
subjects like economics commerce and statistics?
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Answer Posted / soumyalin santy
Accounting is directly or indirectly related with every subjects like Marketing, Financial Management,Economics, Statistics etc. Because before starting a new business the most important problem faced by a business firm is choice of a product, Price to be charge and output of the product so as to maximize profit.So to solve all this problem a firm has to estimate the demand for its product and also to estimate cost- Output Analysis.And for finding out demand of a product an Organisation can go for Statistical Survey like Consumer's behavior,Consumer's preference, Economic Condition etc...At this time also an Organisation takes Marketing Mix Decision like Price, Promotion, place etc.And Financial Management has also importance when You are producing a product. For this a financial Manager takes three types of decision like Financial Decision, investing decision and Dividend Decision. And Accounting records all these activities which require money.
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