Financial accounting is the process of recording, processing and reporting a company’s business transactions to understand an organization’s financial health.
where assets equal liabilities plus equity. That is the fundamental unit to build financial statements (balance sheet, income statement, andcashflow statement). The basic concept of double-entry is that a single transaction, to be recorded, will hit two accounts. ...
There are key differences between financial accounting andgeneral accounting. Robert Duron, PhD, CPA, CFE, an Associate Professor of Accounting atHusson Universityexplained, "Financial accounting is geared toward external users and stakeholders such as investors, creditors, regulators, and the general pub...
Financial accounting is focused on providing accounting reports and analysis to other areas of the business. Financial accountants are responsible for the creation and issuing of the company's financial statements, providing accurate and timely information to management and ensuring that all regulatory ...
These financial statements, along with financial accounting standards in general, must be held to strict rules, so the financial statements will be useful and of high quality. That is why GAAP governs the principles and standards of financial accounting. GAAP requires that accounting information be ...
Accounting provides information about a company, and communicates that information to interested parties. Hence, it is known as the language of business. Accounting has several branches or fields of specialization. One of them, and arguably the most famous, is financial accounting....
Financial management can be defined as the management of the finances of an organization in order to achieve the financial objectives of the organization. The usual assumption in financial management for the private sector is that the objective of the company is to maximize shareholders’ wealth. ...
What is the primary objective of financial accounting? (Please answer in English.)相关知识点: 试题来源: 解析 The primary objective of financial accounting is to provide investors and creditors with information that will help them make investment and credit decisions.反馈 收藏 ...
Basic requirements for financial statement 1, highlight the key points, take into account the general Issues of concern to superiors and current Economics The key points, hot spots and changing indicators are analyzed. Last year The impact of SARS on expenditure is whether this year's macroeconomi...
The Financial Accounting Foundation is an independent, private-sector organization that is mainly responsible for establishing and improving financial accounting and operating standards.