Accounting is the process of identifying, recording, verifying, analyzing, interpreting the financial
transactions of the business. Irvai
Financial transactions are money transfer process the is used by the business to fulfill daily operations.
Business’s main purpose is to obtain a profit.
Business –

Trading business – business purchases goods from the supplier and sold them to the customers to
obtain revenue and profit.

Manufacturing business – business has to acquire raw materials and assemble them to become
finished products and then sold to customers.

Service business – business provide intangible services by using their professional qualification to
the customers.
Bookkeeper – record daily transactions
Accountants – prepare financial accounts and statements
Auditors – check the reliability of information prepares by the accountants
Finance manager – Analyze accounting information and making decisions for future