Knowledge concerned primarily with methods for keeping financial records, recording transactions, performing internal audits. Furthermore, it entails analysing financial information as well as reporting to management.
A systematic process of identifying, recording, measuring, classifying, verifying and summarizing financial information. It reveals profit or loss over a financial period as well as the value and nature of a company’s assets, liabilities and owners' equity. Accounting is used to provide information on the resources available to a company.