what do you mean by Accounting
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Accounting is the art of recording, classifying, and summarizing financial transactions and events. - Accounting is the process of identifying, measuring, and communicating economic information to make decisions.
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities.
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.