What is Accounting?
Accounting is known as the language of business. It is essential for the recording and presentation of business activities in the form of business accounts, financial reporting in the form of financial statements and the provision of relevant economic information for management decision making and control. Accounting serves this purpose by identifying, classifying and summarising, and presenting financial information in order to facilitate decision making and compliance with the law. It looks at ways in which businesses can maximise profits, manage costs and allocate resources effectively and efficiently.
Accounting combines well with Mathematics and Business Studies. It may also complement Psychology and Law.
Studying Accounting will provide a student with one of the most sought after skills in any business. An understanding of the financial health is of utmost importance to any business and all businesses employ the services of accountants to look after their financial affairs. Accounting knowledge can be very useful for you if you decide to be an entrepreneur in future, become a thriving finance professional or just lend a hand in the running of your family business.