I want to know the definition of accounting and elaborate explanation of acounting

Please give me the definition of accounting with elaborate explanation
Anonymous User
Anonymous User
Asked Nov 02, 2016
Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business, and it also refers to the process of summarizing, analyzing and reporting these transactions to oversight agencies and tax collection entities. Accounting is one of the key functions for almost any business; it may be handled by a bookkeeper and accountant at small firms or by sizable finance departments with dozens of employees at large companies.

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Answered Nov 02, 2016
Edited Nov 02, 2016

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