Answer Posted / ridwan
The definition took from accounting terminology bulletin no.1:
Accounting is the art of recording, classifying and
summarizing in a significant manner and in terms of money,
transactions and events, which are in part at least of a
financial character and interpreting the result there of.
Second definition took from A statement of basic accounting
theory (ASOBAT)
Accounting is the process of identifying, measuring and
communicating economic information to permit informed
judgment and decision by users of the information.
Third definition took from A Principles board statement no
4. The title is " Basic concepts and accounting theories
underlying financial statement of business enterprises.
Accounting is a service activity, it's functioned to provide
quantitative information, primarily financial in nature of
economic entities, that is intended to be useful in making
economic decisions, in making reasoned choices among
alternative courses of action.
| Is This Answer Correct ? | 6 Yes | 1 No |
Post New Answer View All Answers
Why LIC?
What Is Cd (certificate Of Deposits) Account?
Where is corporate office of LIC located?
Explain about NBFCs?
What is the difference between wealth, cash n money?
How many nations take part in G 20 Summit? Can you name them?
What are the programs available after crossing nbet exam?
Explain share capital and reserves and surpluses.
What are overheads?
Do All Debts Get Discharged?
What is online banking?
What is 'rule of lapse'?
What is credit card?
What is the difference between nationalised bank and private bank?
Who is a policyholder?
