Drawings

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Drawings: In accounting, drawings refer to the funds or assets taken out of a business by the owner for personal use. It is also known as "owner's withdrawals" and is considered a reduction of capital. Drawings are recorded as a debit to the owner's drawing account and a credit to the owner's capital account. This allows for tracking the amount of resources withdrawn by the owner and distinguishing them from business expenses.

TAMAN BUDUL

Accounting and finance are crucial functions within any organization, as they involve recording, analyzing, and reporting financial transactions and information. Accounting primarily focuses on recording and summarizing financial transactions, preparing financial statements, and maintaining accurate books of accounts. It helps in monitoring the financial health of a business and provides essential information for decision-making, budgeting, and forecasting. There are different branches of accounting, including financial accounting, management accounting, and tax accounting, each serving specific purposes.

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