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Functions of accounting are

  1. Analysis of financial transactions occurred in an enterprise for a given period.

  2. Segregation of transactions by identifying revenue transactions and capital transactions .

  3. identifying accounts to be opened for each financial transaction & recording in journal & ledger.

  4. Preparing trial balance to verify errors to correct & correction. Preparing final accounts at the end of period to measure of outcome of business to arrive at profit /loss .Analysing reasons for loss if any by financial statement analysis

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Y S Ganesh

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3y ago

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