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

What is the present value index for each proposal, The net present value ha...

The net present value has been computed for Proposals A and B. proposal A proposal B invested amount 75000 125000 total present value of cash 84000 136250 net present value 9000 11

What is inheritance in gross income, Q. What is Inheritance in Gross income...

Q. What is Inheritance in Gross income? Inheritance - As distinguished from a BEQUEST or devise, an inheritance is property attained through laws of descent and distribution fr

DEPRECIATION, HOW TO CALCULATE SINKING FUND METHOD

HOW TO CALCULATE SINKING FUND METHOD

Appointment of trustees-trust laws and accounts, APPOINTMENT OF TRUSTEES ...

APPOINTMENT OF TRUSTEES Capacity : Any person with legal capacity to hold property may be a trustee, except an infant. But the court will not appoint, and may remove:Persons u

Forecast income statements, The forecast income statements are as follows: ...

The forecast income statements are as follows: WORKINGS Sales = 50000 × 1·12 = $56000000 Variable cost of sales = 30000 × 1·12 × 0·85 = $28560000 Fixed cost of sa

Financial accounts, The following items are found in the trial balance of M...

The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000. 10 marks Summer 2013 Sundry Debtors Rs.160000 Bad Debts written off Rs 9000 Dis

Me, what is the different between prorfit and margin prorfi

what is the different between prorfit and margin prorfi

Intra company adjustments-group accounts, INTRA COMPANY ADJUSTMENTS In pr...

INTRA COMPANY ADJUSTMENTS In preparing the consolidated balance sheet, the following items may require adjustments:. 1    Goodwill 2    Unrealized profit on closing inventory 3

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