1.1: INTRODUCTION

    The word “ACCOUNTING” means “Language of Business“. The business managers,cashiers and salesmen use the term accounting to explain the business events. You will find that many of the terms used in accounting have obivious different meanings in  non-accounting usage. If you need the knowledge of accounting you will have to know about the business operations and the basis on which business decesions are made.

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Financial Accounting

       The Professionals and business accountants must be expert in the use of this language. You know every language change gradually to meet the changing needs and requirement of the society.  In the same manner, changes and improvements in accounting  are also constantly being made, to satisfy the changing business information. No doubt, Today, in the age of COMPUTERIZATION every information can be collected easily and very early, but accounting is the brain of the business, without proper accounting all information and the data provided will be incorrect and misleading.

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