HBC 2101: Nature, purpose and scope of accounting
| Institution | JKUAT |
| Course | Information Technolo... |
| Year | 1st Year |
| Semester | Unknown |
| Posted By | Jeff Odhiambo |
| File Type | |
| Pages | 10 Pages |
| File Size | 110.52 KB |
| Views | 7688 |
| Downloads | 0 |
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Description
Accounting may be defined as the process of collecting, recording, summarizing and
communicating financial information. Accounting is nothing but a means of
communicating the results of business operations to varies parties interested in or
connected with the business, viz., the owner, creditors, investors, government, financial institutions and other agencies. Accounting is, therefore, rightly called as the language of business. The basis purpose of a language is to serve as a means of communication. Accounting also serve this purpose. Accounting is not only associated with business but also with every body who is interested in keeping an account for the money received and money spent.
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