Definition of accounting " accounting is an art of recording, classifying and summarizing in a significant manner and in terms of money; transaction and event which are, in of a financial character, and interpreting the result thereof. accounting is a systematic process of identifying, measuring, recording, classifying, summarizing, interpreting and communication of financial information. it ensure the proper use of the following; 1. to find available resources. 2. how the resources to be employed effectively. 3. results of the activity achieved. Characteristics of accounting 1. identifying financial transaction identification play an important role of accounting process it determine which accounting transaction and event ae to be recorded in books of accounts. the recording process contains only those transaction which are in financial nature as they bring changes in resources of the business or company. 2. measuring the identified financial transaction The proces
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