What Is Accounting? Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position, and cash flows. Learn Accounting with Austin Academy In a short period of time, Austin Academy has indeed come a long way. It has been successful only because of the quality of its innovative programmes. Austin Academy is a leading Educational Institute in UAE, providing different educational programmes including Computers, Languages, Management, Accountancy and Tuitions. Implementing the broad-based curriculum developed and followed by premier Institutes at Austin Academy is important not only for overall personality development, but also for attaining professional expertise.