Question

Defined as "the art of recording, classifying, summarising, analysing and interpreting the business transactions systematically and communicating business results to interested users is accounting" by

Answer 1

American Institute of Certified Public Accountants

Answer 2

Defined as "the art of recording, classifying, summarising, analysing and interpreting the business transactions systematically and communicating business results to interested users is accounting" by basic accounting.

Accounting is a methodical procedure of recognizing recording measuring classify verifying and communicating financial information.

It discloses profit or loss for a stipulated given period and the worth and the nature of a firm’s possessions and owners’ equity.