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Accounting Accounting is often said to be the “language of Business”. Being able to read and understand an accounting report is a crucial skill for success in the business world. * Accounting is an information system Accounting is an information system of interpreting, recording, measuring, classifying, summarizing, reporting and describing business economic activities with monetary unit as its main criterion The process of identifying, measuring, and communicating economic information to various users. American accounting association, AAA,1966 * Accounting information The accounting proces