Accounting is a comprehensive system for collecting, recording, classifying, summarizing, interpreting, and communicating financial information. It is often referred to as the language of business as ...

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Not all accounting systems operate the same way. While most accounting systems capture basic income and expense data, whether manual or computerized, the system used varies by the type of business.

Financial accounting is a specific type of accounting that uses standardized processes and guidelines for businesses to record their financial transactions and prepare financial statements for ...