Accounting is the language of business. It is the process of tracking every financial transaction — every dollar earned, spent, owed, or owned — and turning that data into meaningful reports that help people make informed decisions.
The process involves recording transactions (bookkeeping), classifying them into categories (assets, liabilities, equity, revenue, expenses), summarizing them into financial statements, and interpreting the results for stakeholders.
Whether you are running a small shop or managing a Fortune 500 company, accounting tells you where your money is, where it came from, and where it went. Without it, no business can survive long-term.