BASIC ACCOUNTING -an Introduction
The accounting system is used to maintain records forÂ allÂ businesses, whether a multinational corporation or a small business.
ToÂ accountÂ for something meansÂ to keep a record of something in your business by using the accounting system.
AnÂ accountantÂ (orÂ bookkeeper) collects documentation and records this information, categorizes it (i.e. organizes the different bits of information under certain categories), and presents it in specific formats.