Recording of Transactions – I 1. Introduction to Recording of Transactions Recording of transactions is the fundamental process in accounting where all financial transactions are systematically documented. Ensures accuracy, completeness,…

Introduction to Accounting What is Accounting? The American Institute of Certified Public Accountants(AICPA) defines Accounting as the art of recording, classifying, and summarizing the transactions and events that are in monetary…

Bookkeeping and accounting are crucial for the financial management of a business, but they have distinct roles and functions. Here is an in-depth comparison of the two: Bookkeeping Definition:Bookkeeping is…