Accounting is the measurement, handling and communiqué of the financial data and pecuniary entities like corporations and businesses. Accounting or accountancy is also called as the “language of business”. It processes the results of an association’s monetary activities and delivers this data to numerous users. The users include creditors, investors, management, and regulators. The term “accounting” and “monetary reporting” are also used as an alternative expression. Accounting is expedited by accounting societies, for instance, standard setters, professional bodies, and accounting organizations. The financial statements are generally appraised by the accounting firms and are prepared in conformity with commonly accepted principles of accounting. The term accounting is so significant for every industry and association. It is very beneficial for home and personal economics. Accounting plays a major role in business to help the internal and external shareholders to make the better decisions in business by providing them with monetary information. It communicates information that the managers, owners, and investors need to appraise the financial performance of an organization. It typically works in two main fields, management accounting, and financial accounting. Management accounting helps in keeping the business running and financial accounting tells how well a business is running.
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- • Students tend to waste their time and delay their work.
- • Students are not able to understand the important concepts and topics of accounting.
- • They are not able to make a relevant timetable and thus they fail in submitting the homework before the deadline.
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