Accounting

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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.

Accounting is the process of recording financial transactions pertaining to a business. It involves summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting provide a concise summary of financial transactions over an accounting period, summarizing a company’s operations, financial position, and cash flows.


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