L1- ABM 1- DEFINITION, NATURE AND HISTORY OF ACCOUNTING.pptx

l1- ABM1

1. Fundamentals of Accountancy, Business and Management 1

2. Definition of Accounting It is a systematic process of identifying, recording, measuring, classifying , verifying , summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners ' equity.

3. Nature of Accounting Accounting is a systematic recording of financial transactions and the presentation of the related information to appropriate persons.

4. Nature of Accounting Accounting is a service activity . Accounting provides assistance to decision makers by providing them financial reports that will guide them in coming up with sound decisions

5. Nature of Accounting Accounting is a process . Accounting provides assistance to decision makers by providing them financial reports that will guide them in coming up with sound decisions.

6. Nature of Accounting Accounting is a process . it follows some definite steps like the collection, recording, classification , summarization, finalization , and reporting of financial data.

7. Nature of Accounting Accounting is both an art and a discipline . The word „art‟ refers to the way something is performed. It is behavioral knowledge involving a certain creativity and skill to help us attain some specific objectives.

8. Nature of Accounting Accounting deals with financial information and transactions Accounting records financial transactions and data, classify these and finalize their results given for a specified period of time, as needed by their users.

9. Nature of Accounting Accounting is an information system . Accounting is recognized and characterized as a storehouse of information. As a service function, it collects processes and communicates financial information of any entity.

10. Functions of Accounting in Business

11. Functions of Accounting in Business

12. Functions of Accounting in Business

13. Functions of Accounting in Business

14. Functions of Accounting in Business

15. History of Accounting

16. History of Accounting

17. History of Accounting

18. History of Accounting

19. History of Accounting

20. History of Accounting

21. History of Accounting

22. History of Accounting