What is accounting?

Like most professions, it can be difficult for people who aren’t in the field of accounting to know exactly what accountants do. All accountants work with finances in some way, and their duties are relatively similar even though they can work in a variety of businesses. You can find accountants in virtually every business, from large corporations to non-profits. Accountants are typically detailed-oriented and proficient at math. In reality, most businesses could not operate without the expertise of an accountant to help them manage their monetary resources.

Practice and body of knowledge concerned primarily withmethods for recording transactions,  keeping financial records,  performing internal audits,  reporting and analyzing financial information to the management, and  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 theresources available to a firm,  the means employed to finance those resources, and  the results achieved through their use.Read for more info : http://www.careerinstitute.net.in/Trusted Name for Commerce Classes in Borivali East | Career Institute

The systematic recording, reporting, and analysis of financial transactions of a business.The person in charge of http://www.companyformationsservices.com/ is known as an accountant, and this individual is typically required to follow a set of rules and regulations, such as the Generally Accepted Accounting Principles.Accounting allows a company to analyze the financial performance of the business, and look at statistics such as net profit.http://www.companyformationsservices.com/

Accounting in its base form has 2 functionalities. it’s first is to keep track of where every penny of a company is going. and it’s second is to help managers make strategic decisions.The best way to imagine accounting is to look at its truest base form, Imagine your household budget. How much did you spend on gas, food, electricity, etc? Now apply this to a business, just not leaving one single penny go unaccounted for. This helps so many departments control what they do on many levels having to be responsible for where money goes. If money turns up missing the accountant will know and it will get tracked down.Secondly with this super accurate information managers can see what areas of the company they need to work on. For example, lets say that the wages that are paid out for the customer service department are to high ( wages expense). Managers, with this information can now look into trying to get the cost down or see if it is accurate. After doing some research ‘’manager’’ finds that it is less expensive to outsource customer service thus saving the company money all because of accounting.But lets talk about work expenses a bit more. as of now without using any kind of task management system that Work expense is so hard to break down, How much time are we spending on ‘’art creation’’ for a marketing campaign. This would be an example of a figure that is almost impossible to track without somebody hovering over you with a stopwatch.The best way to break down work expense is by tracking exactly where human resources are going, The best way to track human resources is by using http://Runrun.it a task management system which allows users to press play and stop when they are working on tasks. And with each task being broken down into task types (i.e. art creation) this allows for managers and ultimately accounting to see what cost are going where instead of just grouping everything under wages expense.

Shortly is a way of creating information about the management of resources in businesses or organizations and consulting based on those information.

accounting is something which records financial aspects of business like recording transactions etc whereas finance means procurement of funds and effective utilization of funds.

Numbers,numbers, numbers of accounting can you count along with me.

An information system which provides information for decision makers.

Accountancy is the processing, measurement and communication of financial information about economic entities. It is also known as the "language of businesses".