What Do You Understand By The Word Accounting
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Answer / deepa
Accounting is a systematic method of recording
transactions in a set of books relating to a particular
individual/institutions for a particular period.
| Is This Answer Correct ? | 27 Yes | 3 No |
Answer / sweta
accounting is the art of recording bussiness transactions
by passing journal entries,classifying them by preparing
various ledger accounts and then summarizing them by
preparing profit and loss account and balance sheet of the
company.
| Is This Answer Correct ? | 13 Yes | 0 No |
Answer / sweta
Accounting is the art of recording transactions,
classifying them by preparing various ledger accounts and
then summarizing them by preparing profit and loss and
balance sheet.
| Is This Answer Correct ? | 11 Yes | 4 No |
Answer / somesh
Accounting is recording,analising & summaring the all
business transations.
| Is This Answer Correct ? | 9 Yes | 2 No |
Answer / narsimha reddy
Accounting is recording,analising & summaring the all
business transations ,classifying them by preparing
various ledger accounts and then summarizing them by
preparing profit and loss account and balance sheet
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / anusha
accounting refers to the process of generating financial statements,beginning with a business transaction and ending with the preparation for the report, there are 6 steps in accounting cycle.The first step is to analyse business transaction document.The second step is to record business transaction in journal.The third step is to post the journal entries to ledger.The fourth step is to prepare trial balance.The fifth step is to prepare financial statement and management report according to account data.The final step is to analyse the report.The result of accounting cycle is financial statement.The best know example of financial statement is balance sheet,statement of cash flow and income statement.
hope the answer helpful...:)
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / id4real
Accounting is the art of collecting,summarizing,recording,
analyzing and interpreting financial data of an enterprise
in order to enable the users to make economic decisions.
| Is This Answer Correct ? | 0 Yes | 0 No |
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