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Accounting is a process, which systematically and comprehensively records business events and transactions, and translate it into the financial information of the business entity to assist in the decision-making process of the stakeholders. In this process, the transactions are identified, recorded, arranged, summarized, simplified and communicated to the interested parties. Accounting is the process of recording, classifying and summarizing financial transactions. Learn about the types, importance and ways of accounting for your business, and the roles of accountants, CPAs and tax professionals. Learn what accounting is , how it works, and why it is important for businesses and individuals. Explore different types of accounting , the accounting cycle, accounting standards, and accounting skills with examples and resources. Definition: Accounting is the process of identifying and recording business events as well as presenting and communicating this financial information to end-users in a meaningful way. In other words, accounting is more than just recording the debits and credits of transactions. Accounting is really a system or process of recording information and displaying it to people in an understandable way, so that they can make decisions based on the financial information. What Does Accounting Mean?
