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9/19/15

Definition of Accounting


Comprehensive and Systematic of recording the financial transactions related to the business. Accounting also summarized analysis, it refers to the process of reporting these transactions. Large companies of the business over a specific period of time, financial condition and cash flow summary financial statements, there is a possibility that you enter in this period, it is a brief summary of hundreds of thousands of financial transactions. Accounting is one of the important functions for nearly all of the business. It is a small and medium-sized enterprises, by bookkeeping and accountants, or dozens of large companies of employees can also be processed by significant financial sector.

Specific record, measurement, classification, verification, summary, to interpret the financial information, and Accounting a systematic process of communication. This is because the income period of time, and corporate assets, will not reveal the value and nature of the debt and equity capital.


Systematic recording, reporting, and analysis of financial transactions of business.

Accounting is known as an accountant, the individual is typically a generally accepted accounting principles, you will be required to follow a set of rules and regulations.

Accounting, it is possible for companies to analyze the financial performance of the business, please look at the statistics, such as such net income.

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