The Meaning of 'Accounting'
Marjan Khan , Student (MBA), Pakistan, Member
What is meant by accounting in your opinion?
Let me make it simple:
- by using 'count' we mean we are counting some money or valuable thing, valuable for a person
- by using 'account' we mean keeping record of all precious documents and treasures.
- 'accounting' is a mixture of the two above words and it means keeping an account of a business transaction or any event which is related to money.
A barter trade is not part of a transaction; it is simply an exchange.
Do you agree with this view of accounting?...