What is Accounting? Explain four of its functions.
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Explanation:
Functions of Accounting are; control of financial policy, and formation of planning, preparation of the budget, cost control, evaluation of employees' performance, Prevention of errors and frauds.
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Answer: Accounting functions are termed as those set of financial systems that help in the bookkeeping of financial information in the organization, financial analysis, summary creation, reporting of transactions and act as the backbone for almost any business.
Explanation: Functions of Accounting are; control of financial policy, and formation of planning, preparation of the budget, cost control, evaluation of employees' performance, Prevention of errors and frauds.
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