Everyone, every company, every entity, every small business or group has an accounting need. Accounting is a science that is used to analyse and manipulate financial data for businesses and the public. Accounting is arguably the most vital aspect of any business or company. Company accounts consist of the Balance Sheet, Profit and Loss Account and Cash Flow Statement. Basic accounting refers to the process of recording a company's financial transactions. Functions of Accounting are; control of financial policy, and formation of planning, preparation of the budget, cost control, evaluation of employees' performance, Prevention of errors and frauds. The presentation gives better understanding on the topic.

John U

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