Accounting can also be recognized as a ‘language’ because it communicates each and every thing about the business activities, viz. profitability, solvency and its future prospects to various users viz. management, investors, creditors, banks etc. Books of accounts are its ‘script’ and ‘rules of debit and credit’ are its style i.e., ways of expression. Like any other language, one needs to study accounting in such a way that one is able to “learn, converse in and communicate” the same in best possible manner. Identify the value(s) being reflected by the functions of accounting.
Class 11 Accountancy Question
Answer:
planning, communication and controlling