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In some business environments, the term "finance" is used to refer to what many people consider accounting. So what is accounting?

Accounting is the history of business and finance. Accounting is a way of recording what has happened in the business and financial world.

Just like any good historian, an accountant adheres to certain principals in order to make sure that the information he or she is recording is as accurate as possible and is useful and understandable to those who may need to read it.

The accounting discipline covers the world of financial statements, financial controls, financial reporting, audits and other activities associated with recording financial information.

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