All ABOUT ACCOUNTING
**** ACCOUNTING **** Definition :- ACCOUNTING is an art of recording all transactions of business and knowing the result of carrying out the business activity. ** HISTORICAL PERSPECTIVE OF ACCOUNTING :- Historians claim that accounting was introduced thousands of years ago using clay tokens to keep records of crops and -livestock. ** MODERN PERSPECTIVE OF ACCOUNTING:- Is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are,in part at least, of financial character,and interpreting the results thereof.'- American Institute of Certified Public Accountants ( AICPA ) Definition. By income tax act book:- https://www.amazon.in/gp/pr...