Introduction to Accounting - E-book - ePub

Accounting can be termed as the psychology of transactions. Psychology studies the behavior of the mind. To defineaccounting, one can refer it to be the study of money and itsbehavior in day to day lives. Money is essential for the survival of any being in moderntimes. It is a priceless commodity that has simplified theprocess of exchange of goods and services. Over the years, money has also grown to value development, holistically andeconomically.
This value of money cannot be figuratively termedunless it can show materialistic benefits to the individual(s)managing it. Only accounting can efficiently tackle such a business situation, if not any other.