Aryan Singh
What Is Accounting And Why It’s the Language of Business
Accounting is often called “the language of business,” and with good reason. Just as language allows people to communicate, accounting enables businesses to communicate their financial story. In essence, accounting is the process of collecting, recording, summarizing, analyzing, and reporting financial transactions. Through this process, organizations produce financial statements, like balance sheets, income statements, and cash flow statements, that provide stakeholders with a “true and fair view” of the company’s financial position and performance.
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