Accounting is the process of recording, classifying, summarizing, analyzing, interpreting, and communicating financial information about an organization to its stakeholders. The stakeholders include investors, creditors, employees, regulators, and others who have an interest in the organization’s financial performance.

The primary objective of accounting is to provide relevant and reliable financial information to decision-makers to help them make informed decisions. Accounting information can be used to assess an organization’s financial health, identify areas of improvement, and make informed decisions about investments, loans, and other financial transactions.