Accounting is a system by which financial information is identified, recorded, analyzed, summarized and reported for use by decision makers. Simply put, accounting is the language of business. An accounting system tracks all financial activities of an organization (whether it is a large Fortune 500 corporation, a small independent book publisher, a nonprofit theater, or a government agency ), which shows him when and where all the money was stolen from the organization and the commitments made. It facilitates the decision-making process by allowing managers to evaluate organizational performance, indicating the financial risks and rewards of choosing one strategy over another, and highlighting current weaknesses and opportunities . Accountants are responsible for four main functions: Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an original essay Accounting: which helps to supervise and manage the financial records and operations of an organization to ensure that they comply with all the regulations of an organization, industry. . Audit: helps provide assurance that internal controls are in place and are adequate to mitigate their organization's financial risks, that governance processes are effective and efficient, and that the organization's goals and objectives are being achieved, as well as to determine whether an organization's financial activities are accurately communicated in its financial statements to regulators and investors. Assurance: Defined by the American Institute of Certified Public Accountants as “independent professional services that improve the quality of information or its context for businesses or individual decision makers.” Taxation: Prepare tax returns that help corporations, other organizations and other individuals; Taxation also helps in developing strategies to reduce the amount of taxes paid; and review the tax implications of various business practices. Despite the variety and dynamic nature of the field, accounting has always had a branding problem. The name Accounting itself remains stuck in public opinion as a boring and busy career, filled with math geeks who love to calculate and play with numbers. In fact, accounting is often ranked among the most sought-after professions, including among the top 25 jobs in 2016 by U.S. News & World Report. In 2016, CareerCast.com ranked the career of "accountant" among the top 50 jobs in terms of work environment, income, job outlook, physical demands and low stress. Salaries are also high for accountants. In 2015, accountants and auditors earned a median salary of $67,190, according to the U.S. Department of Labor, a salary well above the national average ($48,320) for all careers. Opportunities in the accounting industry exist at all career levels, although accountants and auditors are the main players in this field. In addition to this sector, accounting also has a variety of other core specializations in their curriculum, which continue to grow as government regulations increase. , business opportunities develop, etc. technology insolvency international litigation accounting management consulting mergers and acquisitions personal financial planning restructuring strategic planning The Institute of Chartered Accountants of India (ICAI) is the national professional accounting body of.