Question

What is accounting? What are its objects?

Answer 1

$\huge \boxed{hey \: mate}$

Accounting is a process of identifying the events of financial nature, recording them in the journal, classifying in their respective accounts and summarising them in profit and loss account and balance sheet and communicating results to users of such information, viz. owner, government, creditor, investors, etc.

$\huge \mathfrak \green{objects}$

Objectives of accounting in any business are; systematically record transactions, sort and analyzing them, prepare financial statements, assessing financial position, and aid in decision making with financial data and information about the business.

$\huge \mathfrak \red{hope \: it \: helps \: u}$

Answer 2

Accounting is a process of identifying the events of financial nature, recording them in the journal, classifying in their respective accounts and summarising them in profit and loss account and balance sheet and communicating results to users of such information, viz. owner, government, creditor, investors, etc.

Objectives of accounting in any business are; systematically record transactions, sort and analyzing them, prepare financial statements, assessing financial position, and aid in decision making with financial data and information about the business.