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Define accounting

Define accounting

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Answer #1

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

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