accounting is langwage of ...........
Answers
Answer:
Accounting is often know as the language of business..
ANSWER :
Accounting is the language of business.
➻ Accounting is the means through which a business unit expresses itself. It can be considered as the communication medium for business entity. Accounting is the method employed by a business entity to express its activities. As an entity, a business perform certain activities which it wants to express in its own style. Hence, what the business has done, how these have been done, what are the results thereof are communicated by using the accounting language. Afterall, it serves as the language of business.
The main objective of a language is to express the information about the activity or the state of affairs. In case of a business, various information of business activities as well as the result thereof such as fund position, operating activities and its result, amount of assets, amount of liabilities, capital, income, expenses etc. are expressed by using accounting language. Therefore, accounting is aptly called the language of business.
- According to Yuji Ijiri, "As the language of business, the accounting has many things in common with other languages. The various business activites of a firm are reported in accounting statements using accounting language; just as news, events are reported in newspapers in the English language."