BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Accounting is a process of recording, classifying, summarising, analysing and interpreting the financial transactions and communicating the result thereof to the users of such information.

Detailed explanation-2: -Bookkeeping is the process of recording your company’s financial transactions into organized accounts on a daily basis. It can also refer to the different recording techniques businesses can use. Bookkeeping is an essential part of your accounting process for a few reasons.

Detailed explanation-3: -The process of recording business transactions is called journalising.

Detailed explanation-4: -The process of bookkeeping involves four basic steps: 1) analyzing financial transactions and assigning them to specific accounts; 2) writing original journal entries that credit and debit the appropriate accounts; 3) posting entries to ledger accounts; and 4) adjusting entries at the end of each accounting period.

Detailed explanation-5: -Accounting is the art of recording, classifying and summarising in a significant manner and in terms of money, transactions and event which are, in part at least, of a financial character and interpreting the results thereof.