What is accounting?
Solution:
Accounting: It is the process of identifying the events of financial nature. recording them in Journal, classifying their ledger accounts, summarising them in Profit and Loss Account and Balance Sheet and communicating the results to the users of such information i.e. employees, managers, government authorities etc.
Accounting: It is the process of identifying the events of financial nature. recording them in Journal, classifying their ledger accounts, summarising them in Profit and Loss Account and Balance Sheet and communicating the results to the users of such information i.e. employees, managers, government authorities etc.