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OBJECTIVES OF ACCOUNTING ?
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Answer / hemant
MAKE THE PROPER BOOKS OF ACCOUNTS AND GUIDE TO OWNER OF
BUSINEE TIME TO TIME ABOUT THE FINANCIAL POSITION OF
BUSINESS AND MAINTAIN THE DATA FOR FUTURE QUERY WITH
ACCURACY ALSO FOR LEGAL PROCEDURE THAT IS IMPORTANT
| Is This Answer Correct ? | 16 Yes | 3 No |
Answer / vikas
the correct answer is
recording
classifying and
analysing
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / lavi
the first objective of accounting is identification of
financial transactions & then
recording
classifying
c summarising
interpretation
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / sudhansu
1.to keep systematic record
2.to protect business proporties
3.to ascertain profit and loss
4.to ascertain financial position of business
5.to facilitate rational decision making
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / mohammed enayath ali
A. accounting is a process of recording, classifying,
summarizing, analyzing and interpretation the financial
transactions.
a)Recording: done in journal.
b)Classifying: The work of classifying done in ledger books.
c)Summarizing: This involves presenting the classified data
in a manner which is understandable and useful for internal
end users. This process leads to preparation of the
fallowing statements TB/P&L/B/S
d)Analyzing: Method of classification of the given in the
financial statements (differentiate assets and liabilities)
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / manohar reddy
Objects of accounting:
1. Ascertain the results of operations during a period
2. Ascertain the financial position.
3. Maintaining a control over assets
4. Planning in respect of cash
5. Providing information to tax authorities and other
government agencies.
6. To properly match income with expenses.
7. To provide a reliable set of data with which to prepare
financial reports for analysis purposes (for owners,
lenders, investors, etc).
8. To provide a reliable set of data with which to report
income for tax purposes.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / kishor kunal
1.Maintaining Proper record of business.
2.Calculation of profit or loss.
3.Depiction of the Financial Position.
4.Providing effective control over the business.
5.Making information available to various groups.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sumitra.raghavan
to know the effect of transactions
to communicate information to related parties
to protect asset and control claims
legal requirement
| Is This Answer Correct ? | 0 Yes | 1 No |
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