Nature of Accounting
In this modern age of money making period ,every entrepreneur needs financial information of the day to enrich himself in order to control the business activities and plan for future,on the one hand and having a bird's eye view ont he present operating result.
If a task is assigned to a person for the receipt and payment of money he has to maintain some records and there is some credit transactions in the business,which needs business records for the settlement in future therefore it is necessary to have a system of keeping up to date and proper record for ready reference and future planning.
That system is known as"Accounting'
Scope of Accounting:
Accounting is essential in every field of the life,from the small business or a private account of small or large companies to the government,semi government institutions,even schools and collages etc. Nowadays students use to recall their memory at night to check their income and expenditure of the day(what they got from their parents and how much they have spent).
In this modern age of money making period ,every entrepreneur needs financial information of the day to enrich himself in order to control the business activities and plan for future,on the one hand and having a bird's eye view ont he present operating result.
If a task is assigned to a person for the receipt and payment of money he has to maintain some records and there is some credit transactions in the business,which needs business records for the settlement in future therefore it is necessary to have a system of keeping up to date and proper record for ready reference and future planning.
That system is known as"Accounting'
Scope of Accounting:
Accounting is essential in every field of the life,from the small business or a private account of small or large companies to the government,semi government institutions,even schools and collages etc. Nowadays students use to recall their memory at night to check their income and expenditure of the day(what they got from their parents and how much they have spent).
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