Accounting is the process of recording, classifying, summarizing and analyzing financial information about a business. It is the language of business and helps you understand where your money is going so you can make informed decisions about your finances. Accounting involves more than just numbers; it involves processes that ensure financial integrity. An accountant’s job is to ensure these processes work accurately and effectively by monitoring internal controls over financial reporting.
Additionally, Accounting also records provides the basis for preparing financial statements such as balance sheets and income statements that reflect a company’s overall performance against its budgeted targets. The purpose of these two key reports is to help businesses identify potential problems with their operations or investments before they become serious issues that threaten their profitability or survival in the marketplace. Additionally, students who are stuck with accounting assignments can also look for accounting assignment help.