1. What is accounting?
... of Accounting Despite the fact that many practitioners describe accounting as an art and not a science, there seems to be a little consensus on an accurate definition of the term. Hence "accounting can be described as the process of recording, classifying and summarizing the financial transactions of ... and prospective stockholders, lenders, unions, consumer groups, government agencies etc. This is done by systematically recording the business transaction in the proper books of accounts with the view of preparing the financial statements, and these usually takes the form of a balance ...
- Word Count: 2771
- Approx Pages: 11
- Grade Level: Undergraduate