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what is accounting
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what is accounting Related: Introduction to Accounting - Class 11 - A...
Accounting can be defined as the production of financial information. It means that accounting allows us to see things like how much money you are earning, how much you are worth, how much money you spend and where you can improve to make even more money.
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what is accounting Related: Introduction to Accounting - Class 11 - A...
Accounting is the work or process of keeping financial records. It is the systematic recording, reporting, and analysis of the financial activity (transactions) of a person, business, or organization. In business, it allows companies to analyze their financial performance.
Additionally, accounting allows businesses to examine their results regarding profits, losses, productivity, sales trends, costs, etc.
Accountancy is an information science we use to gather, classify, and manipulate financial information. Not only companies, but also individuals, charities, and many other entities are familiar with accountancy.
It is instrumental in companies and other organizations as a means of determining financial stability.
Thank You.
Additionally, accounting allows businesses to examine their results regarding profits, losses, productivity, sales trends, costs, etc.
Accountancy is an information science we use to gather, classify, and manipulate financial information. Not only companies, but also individuals, charities, and many other entities are familiar with accountancy.
It is instrumental in companies and other organizations as a means of determining financial stability.
Thank You.
Community Answer
what is accounting Related: Introduction to Accounting - Class 11 - A...
Accounting starts where book-keeping ends. It includes the following activities :-
1. Summarising the classified transactions in the form of Profit and Loss Account and Balance Sheet etc.
2. Analysing and interpreting the summarised results. In other words , drawing the meaningful information for Profit and Loss Account and Balance Sheet etc.
3. Communicating the information to the interested parties.
Hope this helps you.
If this helped you . Upvote this answer.. .!
1. Summarising the classified transactions in the form of Profit and Loss Account and Balance Sheet etc.
2. Analysing and interpreting the summarised results. In other words , drawing the meaningful information for Profit and Loss Account and Balance Sheet etc.
3. Communicating the information to the interested parties.
Hope this helps you.
If this helped you . Upvote this answer.. .!
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what is accounting Related: Introduction to Accounting - Class 11 - Accountancy?
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what is accounting Related: Introduction to Accounting - Class 11 - Accountancy? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about what is accounting Related: Introduction to Accounting - Class 11 - Accountancy? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for what is accounting Related: Introduction to Accounting - Class 11 - Accountancy?.
what is accounting Related: Introduction to Accounting - Class 11 - Accountancy? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about what is accounting Related: Introduction to Accounting - Class 11 - Accountancy? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for what is accounting Related: Introduction to Accounting - Class 11 - Accountancy?.
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