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Expalin the meaning of accounting

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Expalin the meaning of accounting

Posted by Riteah Paswan 4 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Gaurav Seth 4 years, 1 month ago

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position and cash flows.

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