All About Accounting and Bookkeeping: Definition of Accounting

Brief and Conscise Definitions of accounting from all sources

a system that provides quantitative information about finances and expenses
In terms of accountancy, it is the occupation of maintaining and auditing records and preparing financial reports for a particular business and time frame, mostly it is quarterly, bi-annual and annually;
a chronological list of bookkeeping transaction related to individual/business debits and credits presenting in the forms and it’s part of a ledger of accounts;
In terms of account, it is a statement of recent transactions made with the resulting balance;
The art of communicating all financial information of a certain business entity to shareholders/stockholders and top management. This communication is mostly generated using a form which generally called financial statements that shows money and resources;
The Subject Accounting was first introduced on 1958 using the novel Scottish written by Bruce Marshall;
It is a development using of a system in recording and analyzing financial transactions and status of a business/ or organization;
A relaying or continuously of events from the start of an organization, to justify action within operation;
A total system for recording and summarizing business transactions (in and out);