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Before we begin, there is an ardent need to shed some light on what the subject of accounting is and what it entails. Although there are innumerous definitions of the term accounting floating all throughout the pages of books and the internet alike. In simple terms, Accounting can be defined as systematic and methodical processing, interpretation and summarization of data collected from various reports and analysis. The study of these number figures and the other chores associated with it is not only important but also utterly essential to the building and maintenance of any structure related to finance. There are various branches in the field of accounting itself like, financial accounting, management accounting, income tax management accounting, cost accounting, chartered accounting and so much more. In the modern age where the whole world can crumble at the tip of a financial iceberg, the significance of accounting as a subject and the students who are ardent pursuers of this subj...