Question

What is accounting??

Answer 1

Accounting is the art of recording, classifying, summarinig and communicating financial information to user for correct decision taking.

Answer 2

$Accounting$


Accounting is an art of recording, classifying and summarising in a significant manner and in terms of money, transactions and events which are of financial character and interpreting the results there of.

Accounting plays a very significant role in recording financial transactions in the field of financial activities. It also provides accounts of all financial information by preparing reaports and statements as it keeps proper accounts of all financial transactions which have occurred.