Definition of the accounting ?

Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business or organization. It involves the systematic and comprehensive recording of financial transactions, as well as the preparation of financial statements such as balance sheets, income statements, and cash flow statements. Accounting helps businesses and organizations to track their financial performance, make informed decisions, and comply with regulatory requirements.

Accounting is the systematic and comprehensive recording of financial transactions of a business. It involves summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The monetary value of each transaction is recorded in a systematic manner within a formal accounting system that is based on recognized accounting principles. This systematic approach ensures that there is a reliable and consistent basis for recording, classifying, and summarizing financial information. The resulting financial information allows for the preparation of financial statements that are used by internal and external stakeholders to make informed decisions.

Accounting is the process of identitying, measuring, recording, summarizing, analyzing, and interesting and communicating financial information to informed users of financial information for decision taking.