what are the characteristics of financial accounting
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Answer / gurpreet singh
1. Recording of transactions concerning & affecting the
business.
2. Preparation of neccesary accounts & balancesheet as
required by statutes: &
3. Apprising the owners of the business about the results
of the business over a period of time.
| Is This Answer Correct ? | 40 Yes | 11 No |
Answer / aman
characterstics of financial a/cin are-
1- to know the financial position of the copmany.
2- transaction recorded in cronological order.
| Is This Answer Correct ? | 22 Yes | 6 No |
Answer / abhijit mandal
The art of recording, classifying and summarising in a
significant manner and in terms of money, transactions and
events which are atleast in part of a financial charecter
and interpreting the result.
| Is This Answer Correct ? | 26 Yes | 15 No |
Answer / arpana
Characteristic features of financial accounting:-
*It consists those transactions which can be expressed in
terms of money.
*Its a hystorical form of accounting as it concerned with
recording of tranjectionsi.e. financial statement.
*In perticulal case,its a legal requirement.
*This accounting meant for people who are external to the
company.
*Its a intrim report and can't be a final ones.
*This process of accounting gets largely affected due to
the various accounting policies followed by the accountants.
| Is This Answer Correct ? | 16 Yes | 11 No |
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