Evolution of accounting system and their applications

Accounting is one of the fast growing professions and is also one of the most popular fields of study in colleges, universities and business schools. It offers interesting, challenging and rewarding careers. Accounting is essential to the recording and presentation of business activities in the form of business accounts. It is the systematic recorded presentation of the financial activities of the business. A system converts inputs into outputs. Many people think that accounting is simply a highly technical field practiced only by professional accountants. Actually everyone uses accounting information daily. Accounting information is the means by which we measure and communicate economic events. This paper examines that the purpose of accounting is to measure and report the performance of organizations.