BOOK KEEPING AND ACCOUNTS.
Accounting is reffered to as business language Considered the principle information system in any organization.
- Financial Accounting
- Cost accounting
CIMA (Chartered Institute of Management Accountants) defines Financial Accounting as the analysis, classification and recording of financial transactions and the ascertaintment of how such transactions affect the performance and financial position of a business.
CIMA defines cost accounting as the application of accounting and cost of principles, methods and techniques in the ascertaintment of costs and analysis of savings and or excesses as compared with the previous expenses or with standards.