What are the four main features of accounting?

Here are four features of accounting:

1. Identification of financial transactions: Accounting identifies economic events that can be measured in monetary terms, such as sales, purchases, and payments.
2. Measurement: It quantifies these identified transactions in monetary units, providing a common basis for recording and reporting.
3. Recording: Accounting systematically records these financial transactions in books of accounts, such as journals and ledgers, in chronological order.
4. Communication: It communicates financial information to various users (e.g., investors, creditors, management) through financial statements, helping them make informed decisions.