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What is accounting explain any four …

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What is accounting explain any four function of accounting

Posted by Princy Rastogi 4 years, 2 months ago

CBSE > Class 11 > Business Studies

2 answers

Yogita Ingle 4 years, 2 months ago

The functions of accounting facilitate the objectives of accounting. there are many objectives of accounting. For instance,

Accounting facilitates the systematic management of the records of the transaction and other financial data.
It gives an idea about the chances of profitability or failure or losses.
The process assists the management by helping them to make the best decisions. besides that, accounting ascertains the financial position of an organization.
It also helps in the evaluation of the employee and their working efficiency, in addition, communicating and spreading the accounting information to the user.
Accounting contributes the biggest to any organization by preventing fraud and prevents profit risks.

Varun Jindal 4 years, 2 months ago

Accounting is a record of all our business transaction It is use as a 1.legal documents 2.it help us to get loan 3.it tell us our business is getting profit or loss

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