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In your own words define the term accounting and its usage.
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In your own words define the term accounting and its usage.

User Naveen Rao
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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. 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.

User Rishad Baniya
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