accounting

Definition

The systematic recording, reporting, and analysis of financial transactions of a business.

The person in charge of accounting is known as an accountant, and this individual is typically required to follow a set of rules and regulations, such as the Generally Accepted Accounting Principles.

Accounting allows a company to analyze the financial performance of the business, and look at statistics such as net profit.

See also: List of Key Accounting Terms and Definitions at InvestorGuide.com.

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development stage enterprise sales, general & administration (SG&A)