What is accounting, Financial Accounting

Assignment Help:

What is accounting?

Accounting is concerned with analysing, collecting as well as communicating financial information. Purpose is to help people who use this info to make more informed decisions. If financial information which is communicated isn't capable of improving the quality of decisions made, there would be no point in producing it. Sometimes impression is given that purpose of accounting is basically to prepare financial reports consistently. Though it's true that accountants undertake this kind of work, it doesn't signify an end in itself. Ultimate purpose of the accountant's work is to give people better financial information on which to base their decisions.

 


Related Discussions:- What is accounting

Financial management, Discuss the applicability of the operating cycle in p...

Discuss the applicability of the operating cycle in poultry (consider broilers)

Calculate the expected dividend yield, Assume that it is now January 1, 201...

Assume that it is now January 1, 2012. XYZ Inc. has developed a solar panel capable of generating 200% more electricity than any other solar panel currently on the market. As a res

consignment account, A of surat consigns goods to B of jaipur to be sold ...

A of surat consigns goods to B of jaipur to be sold at or above invoice price.B is entitled to get a commission of 8% on sales at invoice price plus 25% of any surplus price reali

Product costs and which are period costs, The costs that follow were extrac...

The costs that follow were extracted from the accounting records of various different manufacturers: 1.    Weekly wages of an equipment maintenance worker 2.    Marketing costs

Creditors voluntary winding up-liquidation of companies , Creditors' volu...

Creditors' voluntary winding up    If no declaration of solvency is filed the winding up must take place under the control of the creditors. 1. Meeting of creditors : Th

Protection of trustee against claims, PROTECTION AGAINST CLAIMS The tru...

PROTECTION AGAINST CLAIMS The trustees may protect themselves against claims after discharge in the following ways:   1. As regards liability for rent and other obligations und

Assignment, i want to make assignment

i want to make assignment

Required: prepare journal entries for the above transactions, Sleek Ride, a...

Sleek Ride, a company providing limo services, has a December 31 year-end date. For Sleek Ride, the following transactions occurred during the ?rst 10 days of June: a. Purchased, o

EPS, Do you help with assignments

Do you help with assignments?

Participation of employees in management, Q. Participation of Employees in ...

Q. Participation of Employees in Management? To facilitate meaningful and effective participation of workers in the management process it was decided in March 1994 that the Cor

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd