Financial Accounting

Definition of Accounting:Before attempting to define accounting, it may be added that there is no unanimity among accountants as to its precise definition. However, some of the definitions are as given below.According to L.C.Copper, "Book-keeping may be described as the science of recording transactions in money or money's worth in such a manner that, at any subsequent date, their nature and effect may be clearly understood, and that, when required, a combined statement of their result may be prepared".