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In: Accounting

Accounting in nutshell

What is accounting?

if one of your friends asked you " what is accounting ?" how would you respond to them?
what ate sime commin stereotypes people have about learning accounting or the people that work as accountants?

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Expert Solution

 

Accounting has a wider scope and as explained below in the very general language accounting is an art of recording , classifying and summarizing transactions in monetary terms. This can pretent any transaction , event that are of financial character and also analyzing and intrepreting results thereof.

Further it also involves reporting of results to management , regulatory authortires, & other stakeholders.

 

 

 

 

 

 

the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results

Prathyusha answered 2 years ago
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