Meaning of Accounting

Accounting is a discipline that is concerned with the recording, analysis and forecasting of income and wealth of business and that of other entities. In a whole, it records in money terms, the flow of economic values between the economic entities and more so, it is applied in two main academic fields.

Micro Accounting:

This covers business accounting and household accounting.

Macro Accounting:

This covers the field of National Income, input output, balanced of payment and money flow accounting.


Leave a Comment

not allowed!