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Describe the nature and purpose of financial accounting

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Reference no: EM132846359

Question - Describe the nature and purpose of financial accounting.

1. Record transactions and prepare financial statements (income statement, statement of owner's equity, balance sheet) for a sole proprietorship.

2. Implement the proper accounting procedures for a merchandising company that carries inventory.

3. Implement the proper accounting procedures for current assets.

4. Implement the proper accounting procedures for long-term assets.

Reference no: EM132846359

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