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Accounting systems have been used for thousands of years. As businesses grew, people to keep track of costs, profits, and losses invented accounting systems. Modern accounting measures and communicates financial information about an economic entity. This information is used to plan, control, evaluate, and make decisions about a business.Accounting refers to the process of recording and reporting financial transactions, including the origin of the transaction, its recognition, processing, and summarisation into financial statements. (3).Accounting vs. Bookkeeping essaysMany people who are unfamiliar to the business world think that financial accounting and bookkeeping are one and the same; they believe that the words are synonymous. Upon further research, however, it is evident that the financial accountant and the bookkeeper are d.
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The Significance Of Accounting, Accounting And Accounting - Accounting is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting, and communicating financial information and it is very crucial for every business no matter what size.
