Business accounting is the systematic recording, analyzing, interpreting and presenting of financial information. Accounting may be done by one person in a small business, or by different teams in large organizations. Accounting is the way a business keeps track of its operations. It is the process of gathering and analyzing financial information on business activity, recording transactions, and producing financial statements.
E-accounting (or online accounting) is the application of online and Internet technologies to the business accounting function. Online Accounting uses internet technologies like your web browser and smartphone to help you perform business accounting functions. It replaces traditional software, spreadsheets or manual paper-based accounting systems.
Financial accounting is a particular type of accounting that includes a method of documenting, summarising, and reporting the transactions arising from business operations for a period of time. The financial statements used in financial reports describe the five major financial data classifications: income, expenditures, assets, liabilities, and equity. Revenues and expenses are listed on the income statement.