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Accounting is an art of recording summarizing and analyising the transactions that have money's worth. In simple words when any transaction takes place the event is recorded in a systematic way for further reference and analysis, which helps in taking management decisions. 

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Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations

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Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations

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Accounting is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period.

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Various definitions are being given for Accounting by various Accounting bodies. One of the signiicant definition was given by American Institute of Certified Public Accountants (AICPA), " Accounting is an art of recording, classifying, summarizing in a significant manner and in terms of money, transactions and events, which are in part, atleast of financial charaters, and interpreting their results thereof."

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It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity.

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Accounting is the language of business houses through which it communicates their financial performances and financial position to the external environment. 

The American Accounting Association defines Accounting as "The process of identifying, measuring and communicating economic information, to permit informed judgements and decisions by a user of such information."

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Accounting is the art of recording, classifying  and summarising in a significant manner and in terms of money;transactions and events which are, in part at least, of a financial character, and interpreting the reults thereof  

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Practice and body of knowledge concerned primarily with

methodsforrecordingtransactions, keepingfinancial records, performinginternal audits, reportingand analyzingfinancial informationto themanagement, and advisingontaxationmatters.

It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity.

Accounting provides information on the

resourcesavailable to a firm, themeansemployedto finance those resources, and theresultsachieved through th

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the process or work of keeping financial accounts.

"an investigation into suspected false accounting"

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Accounting is a means of measuring and reporting the results of economic activities. It envisages the practical aspect. It is dependent in Accountancy. It is more an art as it concentrates on recording of the transactions.

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Accounting or accountancy is the measurement, processing and communication of financial information about economic entities. The modern field was established by the Italian mathematician Luca Pacioli, in 1494.