Accounting is defined as “The art of recording, classifying, and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof.”
OM Accounting offers a complete range of computerized accounting services, including general journal and subsidiary ledger maintenance, bank statement reconciliation, and receivables and payables /debtors and creditors tracking and analysis. We prepare financial statements in accordance with Generally Accepted Accounting Principles for use by banks and other third parties. OM Accounting will also prepare custom financial reports for internal, managerial use.
Accountancy is the art of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management. It is the branch of mathematical science that is useful in discovering the causes of success and failure in business. The principles of accountancy are applied to business entities in three divisions of practical art, named accounting, book keeping (Bookkeeping), and auditing.
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