Definition: Accounting

General concept

The art of recording, classifying and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof.
Source:
American Institute of Certified Public Accountants (AICPA), quoted in Organization for Economic Cooperation and Development (OECD), Eurostat, World Health Organisation, "A System of Health Accounts", OECD Publishing, 2011
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