No business can function without an accounting department, and the accounting department's job is to offer the business a financial picture. There are skilled accountants who are qualified for this position, and they must be adept in some basic accounting elements. The accounting department's team members differ from one business to the next based on the size and type of business. Accounting is crucial in a corporation because it helps you to track income and costs, maintain statutory compliance, and offer measurable financial data to investors, management, and the government to help them make business decisions. Accountants provide services to all organisations, which is why a company cannot survive or function without the support of skilled accountants The basic of accounting Accounting is a method of recording and communicating economic data for the goals of compliance and decision-making. Accounting systems are made up of three parts: identification, measurement, and co