Accounting comprises registration and analysis of accounting data. Therefore, students who wish to avail more knowledge about the study must understand the application of accounting data effectively. Accounting is the process of recognizing, calculating, taking down, and conveying the economic episodes data and particulars of a company. Accounting comprises a web of activities that are correlated. It begins with the commencement of a transaction and ends with the printing of financial statements. At every stage, a certain amount of data is present. The data that has been present is accounting data. The information and data generated do not suggest that it is the outcome but merely acts as a medium to share figures.