What is all the terms and Definition of Accounting?

as the title said :D

and sorry if this is a very frequently asked question

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  • me
    Lv 7
    9 years ago
    Favorite Answer

    I think this is a good one:

    Definition

    Practice and body of knowledge concerned primarily with (1) methods for recording transactions, (2) keeping financial records, (3) performing internal audits, (4) reporting and analyzing financial information to the management, and (5) advising on taxation matters. It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity. Accounting provides information on the (1) resources available to a firm, (2) the means employed to finance those resources, and (3) the results achieved through their use.

    Now you can really get in to it and read more on this "introduction to accounting":

    http://tutor2u.net/business/accounts/intro_account...

    /cr

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