What is process of accounting What are account receivable and accounts payable What is holding and subsidiaries companies

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Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business.

Accounting involves recording financial transactions, summarizing them in financial statements, analyzing the data, and reporting the results.
Accounts receivable are amounts owed to a company by customers for goods or services provided. Accounts payable are amounts owed by a company to suppliers for goods or services received.
Holding companies are entities that own a controlling interest in other companies, known as subsidiaries. Subsidiaries are separate legal entities controlled by a parent company.
The process of accounting helps businesses track their financial performance, make informed decisions, and comply with regulatory requirements.

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