Accounting is the recording of financial transactions along with storing, sorting, retrieving, summarizing, and presenting the results in various reports and analyses. Accounting is also a field of study and profession dedicated to carrying out those tasks.
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Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used interchangeably. [4] Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. [5]
Accounting is the process of recording the financial transactions of a company or other organization so that they can be reviewed by regulators and tax authorities.
Learn the fundamentals of accounting, including key concepts, processes, and why it’s essential for managing your business finances.
Accounting is known as the language of business. Through a series of steps known as accounting cycle, it gathers information about business transactions, and collates and summarizes them to generate reports for a business entity. This course offers free online tutorials on accounting basics.