Question

Give meaning of Accounting. Describe objectives and functions of accounting. State subscope of accounting

Answer 1

Answer:

Objectives of Accounting

Accounting facilitates the systematic management of the records of the transaction and other financial data. It gives an idea about the chances of profitability or failure or losses. The process assists the management by helping them to make the best decisions.

Explanation:

• For management to make decisions about the future of the firm they require relevant financial information. This is where accounting steps in. It is the language of business that records summarizes and analyzes all transactions and events of a firm.What is the objective of accounting?
• In a practical sense, the main objective of financial accounting is to accurately prepare an organization's financial accounts for a specific period, otherwise known as financial statements. The three primary financial statements are the income statement, the balance sheet and the statement of cash flows.Feb 24, 2020

Answer 2

Answer:

hey

Explanation:

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