Accounting is the language of business. It is the system of recording, summarizing, and analyzing an economic entity's financial transactions. In this lesson on 'Introduction to Accounting' we will learn what is accounting and the need to maintain accounting records through a simple example of two neighbours.
The following topics are covered in this session:-
1.What is the difference between book keeping and accounting
2. Why should you learn accounting
3. Some of its uses and application
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This video Useful for Class XI students.