Accounts affects people and businesses.

Accounting involves recording accounting data.

When the data is being recorded, it has to be sorted to be useful for businesses. This is known as classifying and summarising information.

The Accountant must then communicate the results to the stakeholders of the business.

Accounting is concerned with:

• Recording of data

• Classifying and summarising data

• Communicating what has been learned from the data.

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