Accounting Accountancy and Accountant
Definition of Accounting According to the American institute of Certified Public Accountants, Accounting is “The art of recording, classifying and summarising in a significant manner, in terms of money transactions and events which are in part at least of financial character and interpreting the results there of” Functions/Features of Accounting Identifying the business transactions Measuring […]
What is Bookkeeping
Definition & Types of Bookkeeping Book-keeping is a primary and basic function in the process of accounting and concerned with recording and maintenance of books of accounts only. According to J.R.Batliboi, “Book Keeping may be defined as the science as well as art of recording business transaction under appropriate accounts”. Types of Bookkeeping 1: Single […]
History of Accounting
A Brief History of Accounting The history of accounting dates back to the earliest days of human agriculture and civilization when the need to maintain accurate records of the quantities and relative values of agricultural products first arose. Kautilya’s famous Arthashastra not only relates to Economics and Politics, but also explains the art of account […]