Unit-2 Nature and Scope of Accounting

This unit elaborates the need for accounting and then discusses the nature, scope and importance of accounting.

Accounting involves a series of activities. List them.

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Learning Pundits Content Team

Written on Apr 17, 2019 2:15:32 PM

The activities are :

(1) Identifying

(2) Measuring

(3) Recording

(4) Classifying

(5) Summarizing

(6) Analyzing

(7) Interpreting

(8) Communicating, the financial transactions and events