2007-10-20 07:23:21 · 3 answers · asked by chandra s 1 in Business & Finance ➔ Other - Business & Finance
Accounting is the process of recording, summarizing, reporting, and analyzing financial transactions. It can also be described as 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.
2007-10-21 02:53:25 · answer #1 · answered by Sandy 7 · 0⤊ 0⤋
Bookkeeping
2007-10-22 07:35:13 · answer #2 · answered by Feeling Mutual 7 · 0⤊ 0⤋
It is simply a way for a business to track what they received (debits) and what they gave up to get it (credits).
That is pretty straightforward for simple things like cash (DR) received from a sale (CR).
2007-10-20 18:37:51 · answer #3 · answered by WallBaker 5 · 0⤊ 0⤋