Question

What is the primary reason for the business students and others to familiarise themselves with the accounting discipline?

Answer 1

Every monetary transaction must be recorded in such a manner that various accounting users must understand and interpret these results in the same manner without any ambiguity.

The reasons for why business students and others should familiarise themselves with the accounting discipline are given below.

1. It helps in learning the various aspects of accounting.

2. It helps in learning how to maintain books of accounts.

3. It helps in learning how to summarise accounting information.

4. It helps in learning how to interpret the accounting information with relative accuracy.