Transaction analysis and financial statements
Business events and accounting are closely related as they both involve the tracking and recording of data. Accounting functions to capture all relevant financial information related to a business, such as revenues and expenses, while also providing insights into how the organization is performing financially. Business events provide context for why certain activities such as sales or purchases may have occurred, allowing for greater understanding of the overall financial picture. Additionally, these two aspects often intersect when it comes time to reconcile accounts at the end of an accounting period; since any discrepancies between records need to be explained in order for accurate entries to be made on a company’s balance sheet or income statement.