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Accounting is all about a sequence of actions which are to become executed adequately. They may be mainly recording, then summarizing, reporting, and finally examining the economical transactions. Recording consists of documenting the revenues and entering purchases and expenditures.
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Accounting is defined given that the since the artwork of recording, categorizing, and then summarizing in a very noteworthy method concerning transactions, dollars and events that happen to be of monetary character, and comprehending the outcome thereof.
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