Accounting

Accounting is a system of recording, reporting and verifying the value of assets, income, liabilities and expenses into a ledger or the books of account to which credit and debit entries are posted, to record changes in values. Accounting information is usually used by managers, lenders, tax authorities and investors and numerous other decision makers, to resource allocation decisions within companies, public agencies and other various organizations. Accounting can be defined as the art of recording, summarizing and classifying, transactions and events and interpreting the results. Accounting/accountancy dates back to the early days of human agriculture, and was used to record the quantities and values of agricultural products.