Question

state the functions of accounting​

Answer 1

Answer:

The purpose of accounting is to provide financial information to the stakeholders of the business: management, investors and creditors. Accounting measures and summarises the activities of the company and communicates the results to management and other interested parties

The three major functions of accounting are:

The collection and storage of data concerning a business's financial activities. To supply information that can be used for managerial reports, financial statements, strategic planning and decision-making.

Answer 2

Answer:

Stewardship functions of accounting are;

1. Recording of financial transactions.
2. Classifying.
3. Summarizing.
4. Finding net results.
5. Exhibiting financial affairs.
6. Analyzing financial data.
7. Communicating financial information.