Part 1 of Essay
This essay explore the definition of the term “ accounting”, its processes and procedures. I will examine the five step of the method in detail, and will compare and contrast this method to that of single entry accounting. The analysis concludes that with a discussion of the advantages of and the reasons why this method ....

Part 2 of Essay
.... of financial statements and other financial information. In this essay I will describe the method, identify the advantages and why this method has survived so long. The accounting system provides a basic framework for the analysis of business activities. I am going to go further detail about the accounting procedures used to account for the operations of a business during a specific period. The transaction is analysed and processed in five steps. (See Appendix 1) These steps in the accounting cycle enable the ....