Accounting is an art of recording, classifying, summarizing, reporting and interpreting in term of money is called accounting.
Accounting is Practice and knowledge of concerned organization starting with methods for recording transactions, keeping financial records, performing internal audits, reporting and analyzing financial information to the management, and advising on taxation matters.
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It is a systematic process of recording, classifying, summarizing, interpreting and communicating financial information. It shows profit or loss for a given period of time of particular year, the value of the firm and nature of a firm's assets, liabilities and Capital (owners' equity).
Accounting provides information about the resources available to a firm,
and finance employed to those resources, and the results achieved through the use of resources.
