Define What is Accounting? – A Definitive Guide

What is Accounting – All that happens in business Financial Transaction Of Record do theirs Summarizing them and preparing reports from them is called accounting.

(Let us now understand how many types of accounting are there)

Types Of Accounting

1.     Financial Accounting
2.     Cost Accounting
3.     Management Accounting
4.     Tax Accounting
5.     Audit Accounting

And Father of Accounting “Fra Luca Facioli” – (Father of Modern Accounting) who created Accounting.

(Let us now understand who were the fathers of Accounting)

(Father Of Modern Accounting) – “Luca Pacioli” is believed to have lived in Italy. He published his book (Summade Arithmetica) in 1494.(Double Entry Bookkeeping)System was mentioned.