Question

what is accounting describe it's advantages​

Answer 1

Answer:

ADVANTAGES of ACCOUNTING

• It helps to maintain the business records in a systematic manner.
• It helps in the preparation of financial statements
• Accounting information is also used to compare the result of current year with the previous year to analyse the changes

LIMITATIONS of ACCOUNTING

• The item expressed in monetary terms are recorded in the accounting where as the items which are nonmonetary nature not recorded
• Sometimes accounting data are recorded on the basis of estimates and which could be innacurate
• Fixed assets are recorded as the original cost
• Accounting can be manipulated and biased

Answer 2

here is ur answer (◕ᴗ◕✿)(◕ᴗ◕✿)