Accounting has been termed as the “language of business” by the enterprises as it is used to communicate monetary information to the concerned parties of shareholders, investors, employees, consumers, government, managers, research scholars, etc. accounting is one of the most ancient methods of monitoring the financial transactions in various small and large scale business enterprises. The development of accounting is related to progress in writing, counting, and capital. The thought that accounting is something of a recent invention is ridiculous and untrue. Accounting can be comprehended as the skill of assembling, recording, classifying, shortening and analyzing the transactions of an enterprise in a significant manner which is in monetary terms and are of financial nature that helps interpret the results. In accounting, all the dealings and the transactions are recorded in a book and this is known as bookkeeping and the double-entry bookkeeping is one of the most common methods of bookkeeping. Accounting itself has several different fields like management accounting, tax accounting, financial accounting and auditing. The art of accounting can be handled by the bookkeepers or the accountants or by a number of employees existing in the finance monitoring section or the department of the business.
Being an accounts’ student is not easy as they have to be exceptionally good with numbers to comprehend the nature of the transaction to conclude the profit and loss, and conclude the balance sheet. The students who dread mathematics would not find accounting as fun because the majority of people hating math triumphs over the worshippers of the subject. The most common problem faced in accounts by students is the inability to understand the theoretical part which is bound to create a problem in the practical section. Accounting becomes lengthy even when a slight mistake is made in the process of calculation.
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