Question

What is accounts and function
of accounts​

Answer 1

Answer:

Accounting provides reports of past financial activities which are made suitable for decision-making through analysis. These activities of Accounting are regarded as managerial functions. Five Managerial Functions of Accounting are; Control of financial policy and formation of planning.

The management process implies the four basic functions of: (1) Planning. (2) Organising (3) Controlling, and (4) Decision-making. Management accounting plays a vital role in these managerial functions performed by managers.

Answer 2

In other words, Accounting is a bookkeeping process that records transactions, keeps financial records, performs auditing, etc. It is a platform that helps through many processes, for example, identifying, recording, measuring and provides other financial information.