What is accounting and its types?

Lovey12301 Jun, 2021Finance

Accounting plays an important role in every organisation. It is considered a blood of every business. It is a process of recording all the monetary or financial transactions. It includes recording, classifying, summarizing, analysing and interpreting the recorded data of an enterprise. All the transactions are recorded in a book called book keeping. One has to follow certain guidelines and principles while recording all the transations clearly and correctly.