Accounting or accountancy is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations.
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities.
Fields in Accounting
Accounting has several sub-fields or subject areas, including:
- Financial accounting
- Management accounting
- Accounting information systems
- Tax accounting
- Forensic accounting