what is accounting
- 5 Answers
- 5464 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 |
If a paid to b rs.1000 on behalf of c what is the entries in The books of a,b,c pls pass the entries
8 Answers ABC, Accenture, Genpact, Goldman Sachs, JPMorgan Chase, Okaya, Triburg,
why the company select you?
Under which head the cleaning expenses will come in accounts
How bank reconciliation statement is prepared
We purchased packing material against H form condition, without Sales Tax, Now against we want issue C form to party with payment of CST 2%, C form issue only Basic amount, or including CST amount?
what is the meaning of Accrual Concept?
6 Answers emc2, IHG InterContinental Hotels Group, Rivera Manpower Services,
what is liability? give some entry
how to reverse the receipt cash entry & contra is also passed for it in tally erp 9
Where is Profit and Loss posted in a balance sheet?
If Pass book & Cash Books Balances are showing same so are you need to BRS ?
Explain in simple terms what is the difference between asset, equity, and liabilities?
what are the voucher entries of gratuity in tally
Audit 
