Difference between revisions of "Accounting"
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| − | Accounting is the process of recording financial transactions pertaining to a [[Business|business]]. The accounting process includes summarizing, [[Financial Analysis|analyzing]], and [[Financial Statement|reporting these transactions]] to oversight agencies, regulators, and tax collection entities. The [[Financial Statement|financial statements]] used in accounting are a concise summary of financial transactions over an accounting period, summarizing a [[Business Operations|company's operations]], financial position, and [[Cash Flow|cash flows]]. <ref>Defining Accounting [https://www.investopedia.com/terms/a/accounting.asp Investopedia]</ref> | + | Accounting is the [[process]] of recording financial transactions pertaining to a [[Business|business]]. The accounting process includes summarizing, [[Financial Analysis|analyzing]], and [[Financial Statement|reporting these transactions]] to oversight agencies, regulators, and tax collection entities. The [[Financial Statement|financial statements]] used in accounting are a concise summary of financial transactions over an accounting period, summarizing a [[Business Operations|company's operations]], financial position, and [[Cash Flow|cash flows]]. <ref>Defining Accounting [https://www.investopedia.com/terms/a/accounting.asp Investopedia]</ref> |
Revision as of 13:29, 6 February 2021
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position, and cash flows. [1]
- ↑ Defining Accounting Investopedia