Term: Business accounting
What is business accounting?
Business accounting is the systematic recording, analysing, interpreting and presenting of financial information. Accounting may be done by one person in a small business, or by different teams in large organisations.
Accounting is the way a business keeps track of its operations. Accountants analyse the business finances so the owner can make better decisions. This information is organized into reports that show the financial health of a business.
Accounting helps business owners meet their compliance obligations. It also helps them make smart decisions with their money.