What do you understand by accounting information?
Accounting information refers to the financial statements generated through the process of book-keeping and accounting i.e., trading and profit and loss account and, balance sheet.
State what do you understand by accounting reports?
What do you understand by accounting data? Discuss the stages through which it is finally transformed for being presented as information in financial statements.
What do you understand by balancing of account?
State what you understand by accounting reports.