B.S Accounting

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position and cash flows.Regardless of the size of a business, accounting is a necessary function for decision making, cost planning, and measurement of economic performance measurement.