Accountancy, asked by himansu6358, 1 year ago

What is meant by accounting principles and its features?

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Answered by Anonymous
2
Heya user ✌️✌️

Accounting is a systematic process of identifying ,measuring, recording, classifying summarising, interpreting and communicating financial information .

Objective OF Accounting ⤵️⤵️

⏺️ Maintaining accounting record .

⏺️ Determining profit or loss .

⏺️ Determine financial position .


Features Of Accounting ⤵️⤵️

⏺️ Financial information about business .

⏺️ Assistance to management .

⏺️ Facilitates sale of business .

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