Question

Tell me!
What is the meaning of Accounting? ​

Answer 1

Accounting is all about the process that helps to record, summarize, analyze, and report data that concerns financial transactions. Let’s understand the components a little better to understand the true meaning of accounting.

Answer 2

Answer:

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.