Financial Accounting Assignment

Financial Accounting Assignment Help

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What is Financial Accounting assignment?
Financing Accounting is one of the concepts of Accounting for recording the Company’s Financial Transactions. Using Financial Accounting, the transactions are recorded, summarized and presented in Financial Statement such as Trading Account, Profit, and Loss Account as well as Balance Sheet.Financing Accounting Covers the Following areas:

  • Accounting for Government
  • Auditing Standards help
  • Advanced Accounting Accounting for Corporations
  • Case Study in Accounting Concepts and Conventions Cost Management Help Cost Reduction
  • Cost-Volume Analysis Financial Issues
  • Accounting Standard Codifications Financing Mix
  • International Financial Reporting Standards
  • Labor Liabilities Asset Management
  • Managing Liquid Assets Material
  • Material Control Managerial Accounting
  • Statement of Financial Concepts
  • Stockholders Equity
  • Stores Record Taxation
  • US Tax Codes Value Added Statements Variance Analysis

Frameworks for Financial Accounting Assignment Help as per IFRS and GAAP

All assignments or homework related to financial accounting assignment help services are concerned with the formation of four basics financial statement as given below:

Balance sheet Financial Accounting Assignment Help Online

In financial accounting, a balance sheet is known as the statement of financial position and is a summary of the financial balances that a company faces irrespective of whether it is s sole proprietorship, a business partnership, a corporation or any other business organization. The balance sheet shows the financial balances of a company on a particular date of the year and is divided into assets, liabilities and ownership equity usually listed on the last day of the financial year. Usually called the ‘snapshot of the financial condition’, the balance sheet is the only one of the four financial statements that concludes the financial condition of the company at one single date of the financial year.

Income statement Financial Accounting Assignment help Online

Also known as the profit and loss account, the income statement reflects the revenues, expenses and the revenues after expenses of the firm in one year. The income statement is known by various names including revenue statements, statement of financial performance, earnings statements, statement of operations or operating statement. The statement is important since it shows how sales or revenues or the top line of the firm is converted into profits r the bottom line. It shows which revenues have been recognized in the subject period, the cost and expenses charged against the revenues that have been taken into consideration, the write-offs that have been undertaken and the taxes that have been paid. Accordingly, the management of the firm can take decisions about altering their expenses and costs or retaining profits for the growth of the company. Alternatively, users and readers of the income statement use the statement to find out how scored during the subject period and how lean the operations are, how controlled the costs are and how strong the sales markets are. The schedules included in the income statement provide much detail of where from the sales are being generated, what are the cost centers of the firm, what the administration overheads are, what the taxes are and what the retention of profits is.

Other comprehensive income Financial Accounting Assignment help Online 

To put it in simple words, comprehensive income is the non-owner change in equity for a certain reporting period. This change is in inclusion of all the transaction except those that have been done for the sake of distribution to owners or have been made to owners because most of these statements already appear in the income statement and the certain class of gains and losses are not shown in the income statement but are considered as a special case of increase in shareholders’ equity and thus reflects in the shareholders’ equity section of the balance sheet. Now, other comprehensive income is the difference between the net income and comprehensive income and this represents certain gains and losses that are not recognized in the profits and loss account. This includes:

  1. Unrealized gains and losses
  2. Gains and losses due to hedging activities
  3. Gains are losses due to translation of financial statements of foreign subsidiaries
  4. Actuarial gains and losses from defined benefit plans and
  5. Changes in revaluation surplus

Cash flows and notes to accounts Financial Accounting Assignment help Online

Cash flow statements highlight the ability of a business to generate cash. It is cash on basis of which the daily expenses of the businesses run and it is actually cash that is the king. Cashflow statement breaks down the cash component into investing, operating and financing cash flows and also presents a break up of inflows versus outflows. Notes of accounts show how accounts have been prepared and enumerate the accounting principles used for preparation of accounts


Other Related Topics for Financial Accounting Assignment help Online

Besides these, we provide help in other topics too. Accounting is vast subject and it is not possible to provide all topics here. We provide those topics for which we receive regular assignments.

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Performing Optimality Test Assignment Help Stepping Stone Method Assignment Help Capital Rationing Assignment Help Preparation of Final Accounts Assignment Help Double Entry System of Book Keeping Assignment Help

Accounting Concept includes the following Concepts:
1) Dual Aspect Concept
2) Business Entity Concept
3) Cost Concept
4) Money Measurement Concept
5) Matching Concept
6) Realization Concept
7) Accounting Cycle Concept
8) Going Concern Concept

Sample Questions Asked

  • What is stockholder’s Equity (Owners’ Equity)?


Stockholder’s Equity is one of the elements of an Accounting Equation and it is generally defined as Amount invested by the Owners in the Business. It is also defined as residual money which is being left after paying all the Liabilities of the Company.  Stockholders Equity generally includes the Following items:


  • Paid in Capital: It will include all the Common Stock issues, Preferred Stock.
  • Retained Earnings Account: It will include all types of Reserves and earnings of the Incorporation.
  • Treasury Stock: It includes the amount which has been paid by corporations to repurchase its own Shares.


Stockholders Equity is a mandatory item which needs to be reported in the preparation of the Financial Statement and to record the changes that took place in the Stockholder’s Equity, generally, a Statement is prepared during the end of the accounting period which is known as Statement of Stockholder’s Or Owner’s Equity.


  • What do you understand by the term Capital Account in Accounting?


In the world of Accounting as well as Bookkeeping, Capital Account is a General Ledger Account and considered to be the account which is used for recording the following items:

  1. All the amounts that have been paid by the investors
  2. All the Reserves and surplus of the Company


Capital Account includes only the balances which have been paid by the Owner or the income that belongs to the entity.

There are 3 types of Entities and therefore all of them have different Capital Account inclusion which is as follows:-

Corporations:  In Case of Corporations,  Capital Account will include:

  • Paid in Capital: It will include all the Common Stock issues, Preferred Stock.
  • Retained Earnings Account: It will include all types of Reserves and earnings of the Incorporation.
  • Treasury Stock: It includes the amount which has been paid by corporations to repurchase its own Shares.

Sole proprietorship:  In Case of Sole proprietorship, Capital Account will include:

  • The initial Investment by the Sole proprietor plus the amount earned/ (loss incurred) in the Current Year.
  • Drawings Account: It will always be subtracted from the capital Account balance as it is the owner’s withdrawal from the business for personal purpose. All the drawings Account are closed at the end of the year by deducting the balance from Capital Account.

Partnership Concern: In Case of Partnership Concern, Capital Account will include:

  • All partners Initial Investment in the Firm
  • All Income earned / (Loss) incurred during the year
  • Any amount withdrawn by the Partner during the year will be deducted from its Capital Account

 As Accounting follows a Common Concept of  Equity + Liability = Asset, therefore in all the three cases, the total of Capital Accounts balances must be equal to the total assets less total liabilities of the company.

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