17 Jan, 2023
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Accounting is a methodical approach to gathering, recording, analysing, classifying, confirming, and communicating financial data. It displays profit or loss for a specific time period as well as the amount and type of a company's assets, liabilities, and owners' equity.
There are 4 Elements of Basic Accounting, they are as follows:
1. Recording:
2. Summarising
3. Reporting
4. Analysing
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