Accounting
Accounting has many features and a few of them are described below:
- Accounting is the process to interpret source of the financial activities which comes through different vouchers.
- Accounting creates management report to analyze about the current company's position through different management report.
- An accountant verifies during an accounting process that all vouchers have been properly passed and an accountant edits the voucher if there is any discrepancy.
- An accountant verifies the compliance with different departments such as division of taxation.
- Accounting can be accrual basis or cash basis.