Accounting is defined as the art of recording, classifying, summarizing, analyzing, interpretation and communicating the results of transactions and events which are of financial character. Hence, it includes preparation of final accounts, ascertainment of profit or loss and its communication to users, but it does not includes any kind of competitive advantage.

Explanation:

The direct advantage of accounting refers to the primary benefits or outcomes that result from the practice of accounting. These advantages are directly related to the purpose and objectives of accounting. The options listed in the question are all potential direct advantages of accounting, except for option B, which is not a direct advantage of accounting.

1. Preparation of financial statements:
One of the direct advantages of accounting is the preparation of financial statements. Financial statements, such as the income statement, balance sheet, and cash flow statement, provide a summary of the financial performance and position of an entity. These statements help stakeholders in understanding the financial health of the business and making informed decisions.

2. Ascertainment of profit or loss:
Another direct advantage of accounting is the ascertainment of profit or loss. Through accounting, businesses are able to determine their financial performance over a specific period. This information is crucial for evaluating the profitability and viability of a business. It helps in assessing the success of the company's operations and making necessary adjustments to improve profitability.

3. Information to interested groups:
Accounting provides valuable information to various interested groups, such as investors, creditors, management, and regulatory authorities. These stakeholders rely on accounting information to make informed decisions. For example, investors use financial statements to assess the financial position and performance of a company before making investment decisions. Creditors use accounting information to evaluate the creditworthiness of a business before extending credit.

4. Competitive advantage:
While accounting indirectly contributes to gaining a competitive advantage, it is not considered a direct advantage. Accounting helps businesses in analyzing their costs, identifying areas of inefficiency, and making informed decisions regarding pricing, product development, and resource allocation. By utilizing accounting information effectively, businesses can enhance their competitive position in the market. However, the direct advantage of accounting lies in the accurate recording, reporting, and analysis of financial transactions and information.

In conclusion, the direct advantages of accounting include the preparation of financial statements, ascertainment of profit or loss, and providing information to interested groups. These advantages directly align with the objectives of accounting to provide accurate and meaningful financial information for decision-making. While accounting can indirectly contribute to gaining a competitive advantage, it is not considered a direct advantage itself.

Because this not related to company profit and it is also not any direct advantage to company