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What is accounting?and its objectives? |
| Answer» The main\xa0objectives\xa0of\xa0accounting\xa0are maintaining a complete and systematic record of all transactions and analyzing the financial position of a business. Every individual or a business concern is interested to know the results of financial transactions and their results are ascertained through the\xa0accounting\xa0process.\xa0The following are the main objectives of accounting:\tTo maintain full and systematic records of business transactions: ADVERTISEMENTS: ...\tTo ascertain\xa0profit\xa0or loss of the business: Business is run to earn profits. ...\tTo depict financial\xa0position\xa0of the business: ...\tTo provide accounting information to the interested parties: | |