Question

Define accounting explain the accounting concepts which guide to accountant at the recording stage

Answer 1

In business various exchanges happen each day. It is humanly difficult to recall every one of them. The chronicle of business exchanges is the primary capacity served by Accounting. With the assistance of bookkeeping records the businessperson can find out the benefit or misfortune and the budgetary position of his Business toward the finish of a given period and convey such data to every single invested individual. Here, we mean to have a diagram of Accounting and examine its tendency, extension and significance. We should likewise examine the fundamental ideas which to be seen at the account organize and clarify the guideline of twofold passage i.e., the standards of charge and credit.