what is accounting
- 5 Answers
- 5763 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / srikanth
Accounting the Systematic process of Recording, Classifying
and Summarising the Business Transactions.
| Is This Answer Correct ? | 14 Yes | 0 No |
Answer / ashwini
accounting is the systematic process of recording,
classifying, and summarising the business transactions
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / shanid
Accounting is about providing information to others.
So the basic purpose of accounting is derivation of
information.
The double entry system of accounting enables an
organization to derive the information which are only
related to accounting elements called account heads or
ledger account.
For example :
To know the value of furniture with the organization a
furniture a/c is maintained
To know the amount of expenditure incurred on account of
salaries a salaries a/c is maintained
The more the information is needed needed by the
organization the more the elements (accounting heads) that
are to be maintained by the organization.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / abdul hannan
accounting is a very broad concept but actually accounting
means recording of day to day transaction of the business
to keep the track records of the movement of the goods,
cash inflow and outflow as well. .
accounting refers to management of accounts on the daily
basis to knoe the opening n closing balances. . .
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / guest
Accounting is a art of recording,classifying,summarising in
a significance manners and in tern of many transaction and
event which are at laeat financial character of interpreting
the result thereof.
| Is This Answer Correct ? | 1 Yes | 0 No |
Tell me the meaning of long-term notes payable is or long term liabilities?
How to pass journal entry for payment of 20 % of outstanding income tax demand of AY 14- 15 of an company in the AY 18-19.
what is motive behind create depriciation reserve? how to pass journal entry in case of depriciation reseve?and how it shows in the books of co.
Depreciation comes under direct or indirect expense
can any one tell what is the selection proces in cognizant for MBA finance
Why some asset accounts have a credit balance?
ADR DEFINE
please tell me when co. owner invest money in his family members bank a/c. not any transaction came in business can we do this bank statement in tally ?
why should we call profit and loss account in general we get profit either loss can we call that as profit or loss account?
how to posting tally esi employer contribution and pf employer contibution not included in salary
How do you deal with a dishonoured cheque in the client trust account records. Manual or computer system?
why accounting is important in business?
Audit 
