Company accounts consist of the Balance Sheet, Profit and Loss Account and Cash Flow Statement. Basic accounting refers to the process of recording a company's financial transactions. It involves analysing, summarizing and reporting these transactions to regulators, oversight agencies and tax collection entities. An accounting system is a set of records and the procedures and equipment used to perform the accounting functions. Manual systems consist of journals and ledgers on paper. Computerized accounting systems consist of accounting software, computer files, computers, and related peripheral equipment such as printers. The engaging presentation will give better understanding on the topic.

Saranya R Kurup

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