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Found this on google, "Accounting creates values by maintaining transparency of accounts. Since man lives in the society, he has got a social life. For leading a social life he has to perform financial and material transactions daily. For carrying out these transactions successfully the existence of a sound environment is necessary."
Answer: Accounting is the process of recording financial transactions pertaining to a business.
Step-by-step explanation: The purpose of accounting is to accumulate and report on financial information about the performance, financial position, and cash flows of a business. This information is then used to reach decisions about how to manage the business, or invest in it, or lend money to it.
