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Before discussing our more features, let’s find out something about Accounting.
Accounting is illustrated as the systematic and comprehensive recording of financial transactions involving a business. In other words, it also refers to the process of summarising, analysing and reporting the business transaction. If you are asked to write an assignment on accounting, you can reach our accounting homework help experts who have a strong understanding of the finance fundamentals.
In simple words, “It is a systematic process of identifying, recording, classifying, verifying, summarising, interpreting and communicating financial information. It describes the full report of Profit and Loss of the related firm. It gets revealed over a given period based on the firm’s assets, liabilities and owner’s equity.
If you are facing any problems in understanding the theories of accounting, or the concepts of accounting, you should immediately take accounting homework help online.
Popular Accounting Course Topics
- Advanced Accounting
- Direct & Indirect taxes
- Corporate Law
- Fraud Accounting
- Forensic Accounting
- Offshore Banking
- Job Costing
- Accounting Concepts
- Managerial Accounting
- Shareholder Equity
- Concepts and Types of Share Capital
- Variance Analysis
- Payroll Accounting
- US GAAP Accounting
- Cost Volume Profit Analysis
- Valuation of Fixed Assets
- Current Assets & Current Liabilities
- Cash Flow Statement
- Trial Balance
- Valuing Liabilities
- Decision Making
- Depreciation and its Methods
- Breakeven Analysis
- Forensic Accounting
- Balance Sheet
- Australian Accounting
- Accounting Equation
- Accounting Information System
Objectives of Accounting Class
The sole purpose or goal of accounting is to maintain the systematic record of the business.
It portrays the liquidity position.
It ascertains the results of the finance and the financial position of the business.
It facilitated the rational decision making and satisfied the requirements of laws.
Accounting MethodsAccounting is a two ways for business transactions.
A single entry is one sided entry. It is the process where it records all the financial operations with a single entry.
In this method, every transaction involves two accounts. All the transaction entry is based on a corresponding and opposite entry.
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Branches of Accounting
- Finance – It is the accounting, which defines the financial statements.
- Managerial – All accounting information produced by management.
- Governmental – This type of accounting refers to the type of accounting information used in the public sector. It is also known as Public Accounting or Federal Accounting.
- Tax – This sort of accounting completely related to tax matters. All tax information is handled by tax professionals for tax planning and estimating tax liability.
- Forensic – Forensic accounting primarily gives the information of auditing and investigating in cases of disputes.
- Project – Project accounting deals with the accounting system to track the financial progress of ongoing projects.
- Social – Social accounting typically refers to the process of dealing with Corporate Social Responsibility and Sustainability. It also concludes all the chapters of accounting that are associated with Environmental reports.
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