Accounting, otherwise called accountancy, is a field of study that involves reproducing financial statements or reports in an understandable and required ways as requested by an appropriate agency, authority or individuals.
Accounting checkmates output financial results and presents it to the truism of the statement to the relevant stakeholders for their assessment and next line of action as regards an organisation or a firm.
Accountants operate account records and present it.
Accounting in simply terms financial presentation.
"Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers. Management accounting focuses on the measurement, analysis and reporting of information for internal use by management to enhance business operations. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system. Accounting information systems are designed to support accounting functions and related activities."Source
Accounting is an ancient field of civilization and went down the centuries dictating how people should present and record their financial information for relevant use.
Financial accounts are unique reports
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