The scope of Accounting is wide and extends in Business, Trade, Government, Financial institutions, individuals and families and every other arena. Accounting principle is used in every step.

Many think the Accounting scope is only limited to financial transactions of a business concern but in fact, it is not true.

Accounting is essential for all types of business organizations, even for individuals and families. Financial transactions occur all along in business organizations with a government office, non-trading concerns, and professionals.

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