Question

define accounting and explain the concept of define accounting. explain the accounting concepts which guide the accountant at the recording stage.

Answer 1

the process or work of keeping financial accounts.

Answer 2

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Define accounting and explain the concept of define accounting.

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Accounting is the process of recording financial transportations pertaining to a business

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Explain the accounting concepts which guide the accountant at the recording stage

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Business

• Entity concept:Financial transaction of a business and its owner are treated separately money

Money

• Measurement concept: In accounting the recorded transactions are the business transactions that are expressed in terms of money

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