what is the concept of finance accounting?
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Answer / ramya
It is the concept of preparing the financial statements of
the company or any other business place
| Is This Answer Correct ? | 58 Yes | 6 No |
Answer / deepti
Accounting is an input in financial decision making.
Accounting generates information through preparing balance
sheet, income statement,casflow & fundflow statement & on
this infomation basis financial managers anlysis the
company performance & meet their legal oblications.
| Is This Answer Correct ? | 14 Yes | 3 No |
Answer / prabhu
It concerned with trading a/c calculate whether is greater
or lesser than value either g/p or g/l on the same thing
profit and loss a/c either n/l or n/p finally we have been
prepared the balance sheet
| Is This Answer Correct ? | 11 Yes | 6 No |
Answer / ishwar
Finanacial accounting is countinuous process of prepareing final accounts (trading, p&l and balance sheet) by recording each business transctions in books of accountinging.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / kiran
Financial Accounting is the art of recording day to day
transactions of the business and at the end of the year it
will be figure out the profit or loss.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / monika
Financial Accounting is an art of recording, classifying and summarizing the transactions of a business which are financial in nature, and interpreting the results thereof.
recording -- of journal entries
classifying -- preparing of ledgers
summarizing -- preparation of trading & profit and loss account
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / mujahed
The concept of Finance accounting includes preparation of
financial statements based on the accounting concepts,
principles and conventions.
| Is This Answer Correct ? | 1 Yes | 3 No |
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