Accounting Definition

Good Practice & body of information concerned are the folliwing

•     keeping financial records,  
•     methods for recording accounting transactions,
•   reporting & analyzing the financial     information to the management,
•     advising on taxation matters, and
•     performing internal audits.

Accounting Definition
It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting & communicating financial information. It reveals profit / loss for a given period, value and nature of a firms assets, liabilities & owners' equity.

Accounting delivers info on the

•     the results achieved through their use.
•     resources available to a firm,
•    the means employed to finance all of those resources