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What is accounting?and its objectives?

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What is accounting?and its objectives?

Posted by Tanishka Kashyap 5 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Meghna Thapar 5 years, 3 months ago

The main objectives of accounting are maintaining a complete and systematic record of all transactions and analyzing the financial position of a business. Every individual or a business concern is interested to know the results of financial transactions and their results are ascertained through the accounting process.

The following are the main objectives of accounting:

To maintain full and systematic records of business transactions: ADVERTISEMENTS: ...
To ascertain profit or loss of the business: Business is run to earn profits. ...
To depict financial position of the business: ...
To provide accounting information to the interested parties:

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