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Accounting Normal Balances Chart

Accounting Normal Balances Chart - Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. The recordation process includes setting up a system of record keeping, tracking transactions. Accounting is the process of recording financial transactions pertaining to a business or other large organization. The accounting process includes summarizing,. Accounting is the practice of tracking your business's financial data and interpreting it into valuable insights. Accounting is the process of recording and categorizing a company’s transactions, and then summarizing, analyzing and reporting on these activities. Accounting entails organising data into meaningful reviews, together with balance sheets and earnings statements, that help stakeholders in making informed choices. We will define accounting and break the definition down into simple points; Accounting is the systematic recordation of the financial transactions of a business. Accounting is the process of recording, classifying and summarizing financial transactions.

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