MANAGEMENT

Detailed explanation-1: -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.

Detailed explanation-2: -The eight steps of the accounting cycle are as follows: identifying transactions, recording transactions in a journal, posting, the unadjusted trial balance, the worksheet, adjusting journal entries, financial statements, and closing the books.

Detailed explanation-3: -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-4: -1-1 Accounting is a process of identifying, recording, summarizing and reporting economic information to decision makers. 1-2 No.