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Accounting is a system by which economic information is identified, recorded, summarized and reported to be used by decision makers.Put simply, accounting is the language of business. An accounting system essentially tracks all of the activities of an organization, showing when and where money has been spent and commitments have been made. This aids decision making by allowing managers to evaluate organizational performance, by indicating the financial implications of choosing one strategy over another and by highlighting current weaknesses and opportunities. It allows managers to take a step back, look at the organization, and assess how it is doing and determine where it should be going. Taxation, in the way used by the government, is when the government takes a certain amount of its citizens money in order to provide services, raise an army, or other such thing. Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises.

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