Functions of Accounting

Decision making
Measurement
Forecasting

Explanation:

Accounting is a systematic process of identifying, measuring, recording, classifying, summarizing, analyzing, interpreting, and communicating financial information to stakeholders. It plays a vital role in the decision-making process of the organization. The functions of accounting are as follows:

1. Decision making: Accounting provides relevant information to the management to make informed decisions. It helps in analyzing the profitability, liquidity, and solvency of the business, which aids in making sound decisions.

2. Measurement: Accounting measures the financial transactions of the business entity. It records every transaction in monetary terms, which helps in determining the financial position of the organization.

3. Forecasting: Accounting helps in forecasting the financial position of the business. It provides data for budgeting and forecasting purposes, which helps in predicting future expenses and revenues.

4. Ledger posting: Ledger posting is not a function of accounting. It is a part of the bookkeeping process, which involves recording transactions in the general ledger.

Conclusion:

In conclusion, accounting is a crucial function in any organization. It provides relevant information to the management for decision making, measures financial transactions, and helps in forecasting the financial position of the business. However, ledger posting is not a function of accounting, but it is a part of the bookkeeping process.

Because legder is prepared based on accounting function "classifying" so it cannot be a funtion.Moreover it is an accounting process