Question

What is Accounting ! Explain four of its functions
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Answer 1

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.

Answer 2

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Accounting is a process, which systematically and comprehensively records business events and transactions, and translates it into the financial information of the business entity to assist the stakeholders in the decision-making process.

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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