Question

1.List any two functions of accounting​

Answer 1

Answer:

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Answer 2

List any two functions of accounting

Answer:

Functions of accounting are related to those statements which provide information of economic entity mainly measurable regarding money that will be used in deciding for the plan of action from various alternatives.

Functions of Accounting are; control of financial policy, and formation of planning, preparation of the budget, cost control, evaluation of employees’ performance, Prevention of errors and frauds.

Explanation:

Therefore, from this view and general activities of Accounting;

It is clear that the functions of Accounting are

identification,

recording,

classification and

summarization of transactions

ascertainment of results

exhibition of the financial position of an organization

communication of necessary information derived from an interpretation

analysis of the interested parties, including the management.

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