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what is Accountancy??

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what is Accountancy??

Posted by ? S. S. ? 4 years, 1 month ago

CBSE > Class 11 > Accountancy

1 answers

Yogita Ingle 4 years, 1 month ago

Accounting can be defined as a process of reporting, recording, interpreting and summarising economic data. The introduction of accounting helps the decision-makers of a company to make effective choices, by providing information on the financial status of the business.

The American Institute of Certified Public Accountants (AICPA) had defined accounting as the “art of recording, classifying, and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof”.

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