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hello and welcome to the session in which we would look at what is all the things that its very important to differentiate between auditing and accounting now if youre taking an auditing course if youre taking this course now if youre listening to me most proud we already took your accounting courses or most of your accounting courses but its good to remember what is accounting before we discuss auditing now basically what is accounting accounting is recording basically booking transaction plus classifying classifying basically putting similar transactions together then summarizing basically having a report of economic event for the purpose of providing financial information use in a decision-making so basically we provide information to users and whats the purpose the purpose is to make them to help them make financial decisions so the purpose of accounting is to help you make financial decision lets go thats the purpose of accounting now how can we add value or how can we ma
