Financial Accounting

Financial Accounting

The main purpose of financial accounting is to ascertain the true result (profit or loss) of the business operations during a particular period of time and state the financial position of the business on a particular point of time. financial accounting produces general purpose reports for use by the great variety of people who are interested in the organisation but who are not actively engaed in its day-to-day operation.

Branches of accounting

Branches of accounting

In order to meet the ever increasing demands made on accounting by different interent interested parties (such as owners, mangement, creditors ,taxation authorities etc.) the various branches of accounting have come into existense:

cost accounting

cost accounting:

The main object of cost accounting is to determine the cost of goods manufactured or produced by the business. It also helps the management of the business in controlling the costs by indicating avoidable losses and wastes.

Acounting A business language

Acounting A business language 

Acounting is a language, a system that communicates information. It is referred to as the language       of the businsess, although it is just as important in the operation of government agencies, clubs, colleges and other kinds of organisations.

Advance Accounting

Accounting(Introduction)

We live in a world where people need things from the day they are born to the day that they die.Some of these 'needs' are physical needs, a need for goods of various sorts, clothing, shelter, and so on.Some of them are emotional 'wants', a need for education, entertainment, or recreation. In satisfying such needs businessmen perforn useful services to their fellow humans. In return they expect to earn a reasonable reward for their efforts in the form of porfits.