Accounting
Accounting is the process of recording, classifying, summarizing, and interpreting financial transactions and information of an individual, organization, or business. It provides a structured way to track financial activities, assess performance, and make informed decisions. Accounting serves as the backbone of financial reporting, allowing stakeholders such as investors, managers, regulators, and creditors to understand an entity's financial health and performance. This field encompasses various branches, including financial accounting, managerial accounting, auditing, and tax accounting. By providing accurate and transparent financial data, accounting ensures accountability, facilitates planning, and supports effective resource allocation, making it a fundamental aspect of any well-managed organization.