As suggested by the " Know-It-All WiKi" :
"Business Accounting or Bookkeeping is an ordered system of collecting, registering and summarizing information in monetary terms about the state of property, liabilities and capital of an organization and their changes by transparent, uninterrupted and documentary reflection of all economic operations."
Business Accounting is closely related to Tax and Management accounting.
Internal users of Accounting financial statements are the heads, founders, company participants and proprietors of company asset.
External users of Accounting reporting are investors, creditors, and the Government.
Accounting has been proven to have existed since Ancient Egypt and earlier irrigation-type civilizations. Double entry was introduced into commercial circulation in Venice at the end of the XIII century and described in 1494 by the Italian mathematician Luco Pacioli in the article "Treatise on accounts and records".