Accounting is the analysis and final interpretation of fiscal figures in an organization. Double entry book keeping system is a main attribute of accounting. Those who practice accountancy are called as accountants. The financial accounting information is needed to make it available for the lenders, creditors, management staff and taxation authorities. In an organization, management accountancy is restricted to the top level managerial staff. Accounting gives information regarding the growth of the business. It indicates the business policies which are profitable for the organization. In that way, it moulds the future business strategies in such a way to increase the profitability. The routine works in accounting are being done in recent times with the aid of accounting software.