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what is accounting Related: Basic Accounting Concepts and Conventions...
Accounting
Accounting is all about the process that helps to record, summarize, analyze, and report data that concerns financial transactions. Let’s understand the components a little better to understand the true meaning of accounting.
Recording
The first and foremost function that accounting looks forward to achieving is the recording of the different transactions that are made within the firm. This can also be referred to as book-keeping which is a process of recognizing the transactions and setting them up as records. Book-keeping is only concerned with the recording segment and nothing else. Accounting maintains a few books for the cause of recording. The maintenance of the procedure happens in a systematic manner.
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what is accounting Related: Basic Accounting Concepts and Conventions - Accountancy and Financial Management?
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what is accounting Related: Basic Accounting Concepts and Conventions - Accountancy and Financial Management? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about what is accounting Related: Basic Accounting Concepts and Conventions - Accountancy and Financial Management? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for what is accounting Related: Basic Accounting Concepts and Conventions - Accountancy and Financial Management?.
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