Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business or individual. It serves as the financial backbone of any organization, providing crucial information that helps stakeholders make informed decisions. From tracking income and expenses to preparing financial statements, accounting ensures transparency, accuracy, and legal compliance. It also helps in budgeting, forecasting, and evaluating financial performance over time. Whether you’re managing a small business or running a large corporation, accounting plays a vital role in maintaining financial health and stability. Simply put, accounting tells the financial story of a business.