explain the procedure of accounting?
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Accounting : It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity. Accounting starts with 1) Journal 2) Ledger 3) Trial Balance 4) Final Accounts - Trading and Profit /Loss Account , Balance Sheet
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