Question

who defined "The art of recording, classifying, summarising, analysing and interpreting the business transactions systematically and communicating business results to interested users is accounting"he art of recording, classifying, summarising, analysing and interpreting the business transactions systematically and communicating business results to interested users is accounting"

Answer 1

AICPA American Institute of Certified Public Accountants.

Answer 2

The above defination of accounting was given by American institute of Certified Public accounts.

Accounting is the process of recording.,classifying,summarising and analysing the financial transaction.

Accounting can be done on a cash basis (cash accounting) or on an accrual basis (accrual accounting). Cash accounting records cash inflows and outflows in the period in which they occur. Accrual accounting records income and expenses in the period to which they are attributable rather than when cash payments come and go.