Principals of Accounting Part-1 (BS)

Introduction to Accounting begins with a simple definition of this discipline.
Accounting is referred to as the process of recording, interpreting, reporting, and
summarizing financial data. Accounting and bookkeeping play a central role in helping
the management to help them make the right decisions as per the current financial
status of the company. In other words, accountancy can be referred to as the language
of finance. Here are the four prime aspects of accountancy:
● Economic Events
● Organization
● User Information
● Identification