Define accounting
1.Accounting is the process of recording all finacial transaction regarding to a busines. It is the process fo summarizing, analyzing and reporting of business transactions .
2. It is the process of systematic recording of transactions, measuring and communicating information about financial transactions
some of the accounting terms are expenses. incomes, liabilities and assets , income statement, Balance sheets statement of cashflow and funds flows
There are trhree basic accounting concepts it is calles as ACC
Accural
consistency
conservatism
Get Answers For Free
Most questions answered within 1 hours.