INTRODUCTION The purpose of this document is to describe the nature, purpose and scope of accounting and deliberately explains the details of each category in accounting. Accounting involves preparing an entity's financial records by analyzing, verifying, and reporting those records. It highlights its primary and distinctive role in banking and finance, with a mixture of supporting subtopics. Purpose and ScopeThe main thrust of this report is to explain how accounting plays an important role in banking, finance and other business sectors. To decide this, the following questions are explained as follows: • What is accounting? • How can it be measured in business? • What is the use of accounting in business? As mentioned above, business accounting is used to record and measure the size of the business, in terms of profits and losses on a monthly, quarterly, half-yearly and annual basis. The use of accounting in business, provides a clear review of the net profit, helps to plan the company's budget accordingly. Procedures Accounting in business follows a particular process in both small businesses and large businesses with a step by step process. Here is the simple accounting procedure to know the current situation of the organization. The accounting cycle is followed for each analysis of company transactions. SUB – TOPICS Management Accountant In management, the accountant provides advice to individuals and businessmen, on how to manage their Business. Account information is taken into account and some business decisions are made in both financial and non-financial departments. Budgeting, tax returns and financial statements. Other activities, such as planning, are correct. This audit will be conducted by the organization's audit department, even by an independent auditor who is not part of the organization, and sometimes public officials are elected. In case of unequal consequences the organization must provide explanations for the misrepresentation of misrepresentations. The auditors' aim is therefore to ensure that misrepresentations are corrected, thus maintaining accurate and reliable financial records and statements. CONCLUSION According to the company, or any organization, accounting plays an important role in the development and growth of the company. Organization financial standards expected as complexity of business growth and expansion. Therefore, determining whether standards are implemented may vary depending on the type of industry, company, or organization.