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What is Financial Accounting?
Every organization has an accounting department including the employee working day and night over the revenue of that organization. The job of accounting department is to settle the accounts of any organization in terms of financial transactions. They analyze the revenue and settle the expenses for taxes and miscellaneous financial prospects. Students studying commerce field and business studies need to be perfect in accounting subject and hence the regular practice of writing assignments and presentations helps them to do it. Writing an assignment is a tough job and it gets tougher when you lack in linguistic terms and enhanced vocabulary. Our services for Accounting aspects assignment help will take your worries and provide excellent terminology for your assignments.
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Three Major Components of Financial Accounting
Accounting is based on three pillars of finance. Our experts delivering Accounting aspects assignment help to students are formally equipped with the experience in financial accounting sectors.
The three components are:
- 1 Statement of Cash Flows
during a limited time period, the records of inlet and outlet of the cash earned and spent respectively on various prospects of company is called statement of cash flow. The final balance sheet is maintained by calculating “Cash Inflow – Cash Outflow + Opening Balance”
- 2 Income Statement
it is the complete record of profit and loss of a company’s revenue with respect to its investments and productivity. Accounting aspects assignment help students to analyze and calculate proper profit and loss statements and our experts advise them on crucial terms. “Sales – Cost of products Sold – total expenditure + total income – tax paid to govt. = profit/loss”
- 3 Statement of Financial Position
it is a balance sheet that sets up relationship in between a company’s assets, liabilities and equities. By summarizing the assets to the right and liabilities & equity at the left, the balance sheet is tried to be equal on both ends. Such kind of initiatives shows a company’s status in market. With Accounting aspects assignment help our experts help to distinguish between assets, liabilities and equities of a company.
Objectives of Financial Accounting
• Keeping records of every online/offline transaction in monetary terms
• Providing proper taxes and salaries to the respective employees
• Data interpretation by managing balance sheets
• To provide counseling to company heads for avoiding investments wastages
• Financial accounting shows the financial status of company at global market
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