Functions of Accounting

Functions of Accounting involves Current Accounting functions inside a wide socio-economic background, and so, the information necessary of the accountant cannot be piercingly compartmentalized. It is as a result, hard to talk about one region without linking to other regions of information. We situate a great prominence on the theoretical information. The accountant should not only know but

Functions of Accounting (accounting functions)

Functions of Accounting (accounting functions): Learning Objectives: What are the important functions of accounting? Record Keeping Function: The primary function of accounting is to keep a systematic record of financial transaction – journalisation, posting and preparation of final statements. The purpose of this function


Bookkeeping: After studying this chapter you should be able to: Introduction: The need for a system by which man might keep a record of his business transactions with his fellowmen was felt early in the history of civilization. Many and varied methods were used