give any two defentions of accounting
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1 : the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results also : the principles and procedures of this system studied accounting as a freshman. 2a : work done in accounting or by accountants.
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Accounting is the process of recording financial transactions pertaining to a business. ... The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position and cash flows.
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