Question

Hello guys ♥️❣️♥️

What is the meaning of accounting?

PLEASE GIVE ME CORRECT ANSWER.​

Answer 1

Explanation:

Practice and body of knowledge concerned primarily with

• methods for recording transactions,
• keeping financial records,
• performing internal audits,
• reporting and analyzing financial information to the management, and
• advising on taxation matters.

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 provides information on the

• resources available to a firm,
• the means employed to finance those resources, and
• the results achieved through their use.

Accounting can be divided into several fields including financial accounting, management accounting, external auditing, tax accounting and cost accounting.

• Accounting information systems are designed to support accounting functions and related activities
• Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers
• management accounting focuses on the measurement, analysis and reporting of information for internal use by management.

• The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.

I hope this helps you !

Answer 2

Answer:

...................................................

Explanation:

accounting means to manage account ;in short.