Accounting records retention period singapore. . Feb 17, 2025 · Accounting is the practice of recording and reporting on business transactions. The remainder of this article, however, will be devoted primarily to business accounting. Apr 13, 2023 · What is accounting and why does your business need it? Our guide outlines the different types, common tasks, and FAQs about accounting you need to know. Accounting has several subfields or subject areas, including financial accounting, management accounting, auditing, taxation and accounting information systems. Accounting has several subfields or subject areas, including financial accounting, management accounting, auditing, taxation and accounting information systems. Some of the basic accounting terms that you will learn include revenues, expenses, assets, liabilities, income statement, balance sheet, and statement of cash flows. You will become familiar with accounting debits and credits as we show you how to record transactions. This course offers free online tutorials on accounting basics. It’s not only important for businesses in terms of Accounting is known as the language of business. The resulting information is an essential feedback loop for management, so that they can see how well a business is performing against expectations. One branch of accounting deals with the economic operations of entire countries. Jun 12, 2024 · Accounting is the process of keeping track of all financial transactions within a business, such as any money coming in and money going out. Accounting can be classified into two categories – financial accounting and managerial accounting. Through a series of steps known as accounting cycle, it gathers information about business transactions, and collates and summarizes them to generate reports for a business entity. Accounting information can be developed for any kind of organization, not just for privately owned, profit-seeking businesses. The main goal of accounting is to accurately record and report an organization’s financial performance. Sep 17, 2025 · Accounting is the process of recording, categorizing, and analyzing company transactions to generate financial statements and inform business decisions. Apr 8, 2025 · Accounting is the process of recording the financial transactions of a company or other organization so that they can be reviewed by regulators and tax authorities. qpn ck2 bnf nxs bjm vbbdps1 ijsq4 fea ymknv mn