2006-11-15 01:28:07 · 10 answers · asked by Rakesh J 1 in Business & Finance ➔ Careers & Employment
As per the definition given by American Institute of Certifired Public Accountants, Accounting is recording, classifying, summarising and reporting business transactions in a systematic manner.
Here,
1. Recording: To note down the transaction in the books of accounts.
2. Classifying: To classify the various transactions under proper heads like transactions of sales and purchase, etc.
3. Summerising : To provide summary of the business as a whole based on the accounts. It means to show the net result (profit or loss) from the business and the correct situation (total amount invested and total liabilities) of the business.
4. Reporting: To report on the summary of the business transactions.
The accounting is a continuous activity involving recording of all the transactions that take place in the organisation
2006-11-15 04:13:26 · answer #1 · answered by Parth 2 · 0⤊ 0⤋
Accounting is keeping financial account.
2006-11-15 09:34:50 · answer #2 · answered by linda c 5 · 0⤊ 0⤋
You just verift the first page of 11th standard Accounts book
2006-11-16 05:18:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
accounting is nothing but the recording of all U R expenses and Income in a book or software in a computer
2006-11-15 09:37:03 · answer #4 · answered by Ramasubramanian 6 · 0⤊ 0⤋
Accounting is a art and science for keep their financial transaction.
2006-11-15 10:04:36 · answer #5 · answered by Mitul M 1 · 0⤊ 0⤋
Accounting is summarising, classifying business transactions in a systematic manner. that is daily, weekly or yearly
2006-11-15 09:55:32 · answer #6 · answered by sandesh k 1 · 0⤊ 0⤋
Accounting is systematic recording and presentation of data.
Good bye
2006-11-15 11:31:04 · answer #7 · answered by Anonymous · 0⤊ 0⤋
a mess created arround ten digits o to 9
2006-11-15 14:02:15 · answer #8 · answered by ritesh m 1 · 0⤊ 0⤋
Good answer sandesh, with a small correction. It is always daily.
2006-11-15 11:18:39 · answer #9 · answered by cvrk3 4 · 0⤊ 0⤋
you count money people owe in taxes
2006-11-15 09:31:58 · answer #10 · answered by Utopia 4 · 0⤊ 0⤋