Explain the accounting process with the help of a diagram.

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Solution

Accounting process starts with identifying financial transactions, involves recording, classifying and summarising and ends with interpreting accounting information to various concerned parties.

Accounting process can be explained with the help of the diagram given below:

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Explain the accounting process with the help of a diagram.

Accounting process starts with identifying financial transactions, involves recording, classifying and summarising and ends with interpreting accounting information to various concerned parties. Accounting process can be explained with the help of the diagram given below:

Accounting process starts with identifying financial transactions, involves recording, classifying and summarising and ends with interpreting accounting information to various concerned parties.

Accounting process can be explained with the help of the diagram given below: