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This article talks about the procedures that are to taken before the preparation of the financial statement.
The Double entry system was not invented br Fra Luca Pacioli rather he poularised the system with the book "Summa" he published and this made him the father of accounting since the book “Summa de Arithmetica, Geometria,Proportinoni et Proportionalita” was the First and Most popula...
This page give's you a precise definition of accounting.
This article is about the accounting profession and what accountancy is all about .