What is the meaning of Accounting?

 -- What is the meaning of Accounting? 
What is the meaning of Accounting?


The Committee on Terminology set up by the American Institute of Certi ed Public Accountants formulated
the following de nition of accounting in 1961:
“Accounting is the art of recording, classifying, and summarising in a signi cant manner and in terms of
money, transactions and events which are, in part at least, of a nancial character, and interpreting the result
thereof.”
Location: Kolkata, West Bengal, India

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