Define accounting explain the objectives and scope of accounting
Asked by admin @ in Accountancy viewed by 476 People
Define accounting explain the objectives and scope of accounting
Answered by admin @
Accounting is an art of identifying ,classifying, recording,and interpreting the results in the monetary terms .
Objectives of Accounting :-
(1) To determine profit and Loss
(2) To communicate the results to the users.i.e .internal users and external users.
(3) To compare the currents results with previous years result.
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