0Accounting is the art of recording, classifying, summarising in a significant manner regarding money, transaction & events which are at least in part financial interpreting the result thereof.
(AICPA -American Institute of Certified public Accountant).
The recording part is Journal.
The Classification is called a ledger.
The Summers is totally or trial balance.
The Significant manner - Systematic.
The Transaction - Exchange of goods & services between (It may be in cash or credit) two parties.
The Services - Intangible, Goods - tangible result, either or, profit or loss.
