Question

What is Accounting process??

Don't Spam ❌​

Answer 1

Answer:

$\Large\underline{\underline{\sf{ \color{magenta}{\qquad Given \qquad} }}}$

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.

Answer 2

$\Large{\underline{\underline{\tt{\purple{Hello !!}}}}}$

Required answer:-

Accounting is a step-by-step process that starts with analyzing transactions and recording journal entries for them.

More:-

And ends with the preparation and interpretation of financial statements (Balance Sheet, Statement of Profit & Loss, and Cashflow Statement).

The accounting process is cyclic in nature i.e. all the steps involved in the accounting process (from the analysis of transactions to the preparation of financial statements) take place during each accounting period.

That’s why it is called the accounting cycle.

Brainliest .. !! ❤⚡