What exactly is Accounting?

Question

I dont know what it is.. can you define it

Answer 1

Accounting means the bookkeeping methods involved in making a financial record of business transactions and in the preparation of statements concerning the assets, liabilities, and operating results of a business,i.e. the process of recording, measuring, interpreting, and communicating financial data. The purpose is to provide a record such as funds paid or received for a person or a business. Accounting summarizes and submits this information in reports and statements. The reports are intended both for the firm itself and for outside parties.

Answer 2

the art of measuring, communicating and interpreting financial activity. Accounting is also widely referred to as the "language of business