Accounting and auditing

Accounting is language of finance which all business decision-makers must understand. It is the process of capturing, possessing and communicating financial information. So it is an information system that accumulates, records, classifies, summaries and report commercial transactions. The aim of this process is to show the financial condition of a business entity.

Bookkeeping is a small part of the system and deals with record-keeping.

Accounting information are uses by managers, investors, and different groups in society such as tax authorities, labour unions, local governments, financial analysts and others.