Learn Basic Accounting 1.2.7

Accounting is a systematic process encompassing the recording, classification, processing, and presentation of financial data and transactions. This methodical approach ensures the information generated is reliable and useful for decision-making by professionals in the field.

Experts who specialize in this discipline are known as accountants. They not only manage and interpret data but also play a crucial role in communicating financial results to various stakeholders. Accounting can be described as the business language that quantifies economic activities within organizations, providing essential insights to management, investors, creditors, and regulators alike.