accounting aaa definition
Accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events, which are, in part at least, of a financial character and interpreting the result thereof. According to the American Accounting Association [AAA]; Accounting refers to the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information. According to Weygandt, Kieso and Kimmel; Accounting is an information system that identifies records and communicates the economic events of an organization to interested users. In the light of the above discussion and definitions of Accounting, a comprehensive and meaningful definition of Accounting can be given as such;