Question

Describe defination of accounting. Xx sweet poison xx I hope that I have given you a right abswer​

Answer 1

ᴡʜᴀᴛ ɪs ᴀᴄᴄᴏᴜɴᴛɪɴɢ?

ᴅᴇғɪɴɪᴛɪᴏɴ ᴏғ ᴀᴄᴄᴏᴜɴᴛɪɴɢ:

ᴀᴄᴄᴏᴜɴᴛɪɴɢ ɪs ᴛʜᴇ ʀᴇᴄᴏʀᴅɪɴɢ ᴏғ ғɪɴᴀɴᴄɪᴀʟ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs ᴀʟᴏɴɢ ᴡɪᴛʜ sᴛᴏʀɪɴɢ, sᴏʀᴛɪɴɢ, ʀᴇᴛʀɪᴇᴠɪɴɢ, sᴜᴍᴍᴀʀɪᴢɪɴɢ, ᴀɴᴅ ᴘʀᴇsᴇɴᴛɪɴɢ ᴛʜᴇ ʀᴇsᴜʟᴛs ɪɴ ᴠᴀʀɪᴏᴜs ʀᴇᴘᴏʀᴛs ᴀɴᴅ ᴀɴᴀʟʏsᴇs. ᴀᴄᴄᴏᴜɴᴛɪɴɢ ɪs ᴀʟsᴏ ᴀ ғɪᴇʟᴅ ᴏғ sᴛᴜᴅʏ ᴀɴᴅ ᴘʀᴏғᴇssɪᴏɴ ᴅᴇᴅɪᴄᴀᴛᴇᴅ ᴛᴏ ᴄᴀʀʀʏɪɴɢ ᴏᴜᴛ ᴛʜᴏsᴇ ᴛᴀsᴋs.

ᴇxᴀᴍᴘʟᴇs ᴏғ ғɪɴᴀɴᴄɪᴀʟ ᴀᴄᴄᴏᴜɴᴛɪɴɢ:

ᴏɴᴇ ᴘᴀʀᴛ ᴏғ ᴀᴄᴄᴏᴜɴᴛɪɴɢ ғᴏᴄᴜsᴇs ᴏɴ ᴘʀᴇsᴇɴᴛɪɴɢ ᴛʜᴇ ғɪɴᴀɴᴄɪᴀʟ ɪɴғᴏʀᴍᴀᴛɪᴏɴ ɪɴ ᴛʜᴇ ғᴏʀᴍ ᴏғ ɢᴇɴᴇʀᴀʟ-ᴘᴜʀᴘᴏsᴇ ғɪɴᴀɴᴄɪᴀʟ sᴛᴀᴛᴇᴍᴇɴᴛs (ʙᴀʟᴀɴᴄᴇ sʜᴇᴇᴛ, ɪɴᴄᴏᴍᴇ sᴛᴀᴛᴇᴍᴇɴᴛ, ᴇᴛᴄ.) ᴛʜᴀᴛ ᴀʀᴇ ᴅɪsᴛʀɪʙᴜᴛᴇᴅ ᴛᴏ ᴘᴇᴏᴘʟᴇ ᴏᴜᴛsɪᴅᴇ ᴏғ ᴛʜᴇ ᴄᴏᴍᴘᴀɴʏ. ᴛʜᴇsᴇ ᴇxᴛᴇʀɴᴀʟ ʀᴇᴘᴏʀᴛs ᴍᴜsᴛ ʙᴇ ᴘʀᴇᴘᴀʀᴇᴅ ɪɴ ᴀᴄᴄᴏʀᴅᴀɴᴄᴇ ᴡɪᴛʜ ɢᴇɴᴇʀᴀʟʟʏ ᴀᴄᴄᴇᴘᴛᴇᴅ ᴀᴄᴄᴏᴜɴᴛɪɴɢ ᴘʀɪɴᴄɪᴘʟᴇs ᴏғᴛᴇɴ ʀᴇғᴇʀʀᴇᴅ ᴛᴏ ᴀs ɢᴀᴀᴘ ᴏʀ ᴜs ɢᴀᴀᴘ.

ᴇxᴀᴍᴘʟᴇs ᴏғ ᴍᴀɴᴀɢᴇᴍᴇɴᴛ ᴀᴄᴄᴏᴜɴᴛɪɴɢ:

ᴀɴᴏᴛʜᴇʀ ᴘᴀʀᴛ ᴏғ ᴀᴄᴄᴏᴜɴᴛɪɴɢ ғᴏᴄᴜsᴇs ᴏɴ ᴘʀᴏᴠɪᴅɪɴɢ ᴀ ᴄᴏᴍᴘᴀɴʏ's ᴍᴀɴᴀɢᴇᴍᴇɴᴛ ᴡɪᴛʜ ᴛʜᴇ ɪɴғᴏʀᴍᴀᴛɪᴏɴ ɴᴇᴇᴅᴇᴅ ᴛᴏ ᴋᴇᴇᴘ ᴛʜᴇ ʙᴜsɪɴᴇss ғɪɴᴀɴᴄɪᴀʟʟʏ ʜᴇᴀʟᴛʜʏ. ᴀʟᴛʜᴏᴜɢʜ sᴏᴍᴇ ᴏғ ᴛʜᴇ ɪɴғᴏʀᴍᴀᴛɪᴏɴ ᴄᴏᴍᴇs ғʀᴏᴍ ʀᴇᴄᴏʀᴅᴇᴅ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs, ᴍᴀɴʏ ᴏғ ᴛʜᴇ ᴀɴᴀʟʏsᴇs ᴀɴᴅ ʀᴇᴘᴏʀᴛs ɪɴᴄʟᴜᴅᴇ ᴇsᴛɪᴍᴀᴛᴇᴅ ᴀɴᴅ ᴘʀᴏᴊᴇᴄᴛᴇᴅ ᴀᴍᴏᴜɴᴛs ʙᴀsᴇᴅ ᴏɴ ᴠᴀʀɪᴏᴜs ᴀssᴜᴍᴘᴛɪᴏɴs. ɢᴇɴᴇʀᴀʟʟʏ, ᴛʜɪs ɪɴғᴏʀᴍᴀᴛɪᴏɴ ɪs ɴᴏᴛ ᴅɪsᴛʀɪʙᴜᴛᴇᴅ ᴛᴏ ᴘᴇᴏᴘʟᴇ ᴏᴜᴛsɪᴅᴇ ᴏғ ᴛʜᴇ ᴄᴏᴍᴘᴀɴʏ's ᴍᴀɴᴀɢᴇᴍᴇɴᴛ. ᴀ ғᴇᴡ ᴇxᴀᴍᴘʟᴇs ᴏғ ᴛʜɪs ɪɴғᴏʀᴍᴀᴛɪᴏɴ ᴀʀᴇ ʙᴜᴅɢᴇᴛs, sᴛᴀɴᴅᴀʀᴅs ғᴏʀ ᴄᴏɴᴛʀᴏʟʟɪɴɢ ᴏᴘᴇʀᴀᴛɪᴏɴs, ᴀɴᴅ ᴇsᴛɪᴍᴀᴛɪɴɢ sᴇʟʟɪɴɢ ᴘʀɪᴄᴇs ᴡʜᴇɴ ǫᴜᴏᴛɪɴɢ ᴘʀɪᴄᴇs ғᴏʀ ɴᴇᴡ ᴡᴏʀᴋ.

ᴏᴛʜᴇʀ ᴇxᴀᴍᴘʟᴇs ᴏғ ᴀᴄᴄᴏᴜɴᴛɪɴɢ:

sᴏᴍᴇ ᴏғ ᴛʜᴇ ᴍᴀɴʏ ᴏᴛʜᴇʀ ᴇxᴀᴍᴘʟᴇs ᴏғ ᴀᴄᴄᴏᴜɴᴛɪɴɢ ɪɴᴄʟᴜᴅᴇ:

• ᴀᴅᴠɪsɪɴɢ ᴏɴ ᴀᴄᴄᴏᴜɴᴛɪɴɢ sʏsᴛᴇᴍs
• ɪɴᴄᴏᴍᴇ ᴛᴀx ᴘʟᴀɴɴɪɴɢ, ᴀᴅᴠɪsɪɴɢ, ᴀɴᴅ ʀᴇᴘᴏʀᴛɪɴɢ
• ᴀᴜᴅɪᴛɪɴɢ ᴛʜᴇ ғɪɴᴀɴᴄɪᴀʟ sᴛᴀᴛᴇᴍᴇɴᴛs ᴏғ ᴄᴏᴍᴘᴀɴɪᴇs ᴀɴᴅ ᴏᴛʜᴇʀ ᴏʀɢᴀɴɪᴢᴀᴛɪᴏɴs
• ᴘʀᴏᴠɪᴅɪɴɢ ɢᴇɴᴇʀᴀʟ ʙᴜsɪɴᴇss ᴀᴅᴠɪᴄᴇ
• ғɪɴᴀɴᴄɪᴀʟ ᴘʟᴀɴɴɪɴɢ ғᴏʀ ɪɴᴅɪᴠɪᴅᴜᴀʟs

ʜᴏᴘᴇ ɪᴛ ʜᴇʟᴘs ᴜʜ✌

ᴛʜɴx ʙᴜᴛ ɪᴛs ᴛᴏᴏ sʜᴏʀᴛ #

Answer 2

Answer:

• Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities.
• The bookkeeping methods involved in making a financial record of business transactions and in the preparation of statements concerning the assets, liabilities, and operating results of a business