What are the main functions of Accounting?

<p dir="ltr">Students can read the points mentioned below to know the main functions of Accounting:</p><ul><li dir="ltr" aria-level="1"><p dir="ltr" role="presentation"><strong>Recording: </strong>The main function of accounting is to record all transactions in which the company participates. The confirmation of transactions and their records is called bookkeeping.</p></li><li dir="ltr" aria-level="1"><p dir="ltr" role="presentation"><strong>Summarising: </strong>The transaction log creates raw data. Pages and pages with raw data are not very useful for organizational decision-making.</p></li><li dir="ltr" aria-level="1"><p dir="ltr" role="presentation"><strong>Reporting: </strong>The management is responsible to investors for the company's condition, and owners must receive information about the activities funded by their funds on a regular basis, and therefore regularly send them reports.&nbsp;</p></li><li dir="ltr" aria-level="1"><p dir="ltr" role="presentation"><strong>Analysing: </strong>Finally, accounting includes analysis results; after summarizing and presenting the results in the report, meaningful conclusions must be drawn; management must know its pros and cons; accounting helps to compare; the usual practice is to compare income, cash, and sales analysis of business performance.</p></li></ul>

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