Meaning of Accounting:-
Accounting is means of collecting ,summarising, analysing and reporting in monetary terms, information about the business. In other words, Accounting is very dynamic profession,which is constantly adapting itself to varying needs of it's users.
Accounting is the process of identifying, measuring and communicating the economic information of an organization for decision-making to it's users.
Definitions of Accounting
According to American Accounting Association (AAA)"Accounting is the process of identifying , measuring and communicating information to permit judgement and decisions by the users of accounts.
According to American institute of Certified Public Accountants (AICPA), "Accounting is the art of recording, classifying and summarising in a significant manner and in terms of money , transactions and events which are , in part at least , of financial character and interpreting the result thereof"
Accounting is means of collecting ,summarising, analysing and reporting in monetary terms, information about the business. In other words, Accounting is very dynamic profession,which is constantly adapting itself to varying needs of it's users.
Accounting is the process of identifying, measuring and communicating the economic information of an organization for decision-making to it's users.
Definitions of Accounting
According to American Accounting Association (AAA)"Accounting is the process of identifying , measuring and communicating information to permit judgement and decisions by the users of accounts.
According to American institute of Certified Public Accountants (AICPA), "Accounting is the art of recording, classifying and summarising in a significant manner and in terms of money , transactions and events which are , in part at least , of financial character and interpreting the result thereof"
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