Accounting encompasses a set of interconnected and synchronized– aligned scientific methods through which the recording of certain business events is ensured, as well as the analysis and control of those events, the planning of economic events and their future effects, as well as informing management and leadership structures about economic flows within the domain of accounting information.

This process is crucial for any organization, as it enables proper financial management, optimization of business operations, and informed strategic decision-making. Accounting information not only facilitates mandatory reporting on the organization’s operations but also provides a detailed insight into its financial stability, liquidity, and profitability.