Question

what is accounting ?

Answer 1

Accounting is the process of recording financial transactions which are occurred in a business. Such process includes summarizing, analyzing, and reporting these transactions to oversight agencies, management, and taxation departments etc.The process of accounting flows as follows :

Journal entries, Ledger postings, Closing entries,Trial Balance,Adjusted trial balance, financial statements.

When the process of the above mentioned completes the process of accounting would be completed.

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