Accounting is the systematic process of recording, analyzing, and reporting financial transactions of a business or organization. It provides essential information about income, expenses, assets, and liabilities, helping management make informed financial decisions. Through accurate bookkeeping and financial statements, accounting ensures transparency, legal compliance, and effective budgeting. It also plays a vital role in tracking performance, managing taxes, and evaluating profitability. Modern accounting combines traditional principles with advanced software tools, making financial management faster and more precise. Overall, accounting serves as the backbone of any business, ensuring financial stability and long-term growth.