Question

accouting is a historical in nature explain?​

Answer 1

Answer:

Explanation:

Financial Accounting. ... 2) Historical Nature: Financial accounting considers only those transactions which are of historical nature i.e the transaction which have already taken place. No futuristic transactions find any place in financial accounting, howsoever important they may be from business point of view.

Answer 2

nearly every business Enterprises has accounting system it is a means of collecting summarising analysing and reporting and a monetary terms informations about business

1. accounting is a art of recording classifying and summarising in a significant manner and in terms of money transactions and event which are in part at least of a financial character and interpreting the result there of
2. accounting is the science of recording and classifying business transactions and events primarily of a fictional character and the art of making significant summaries analysis and interpretations of those transactions and events and communicating the result two persons who must make decision or formed judgement