The financial accounts which are prepared should be fully reliable means there should be no error in preparing the statement , the understandability should be good it means everything should be expressed in the simple manner in the financial statement.

1. See profile
More options ▼
0 TweetTweet 0
Friends
tag-tutor
Finance Assignment Help Finance Homework
Help financial accounting help USA financial
accounting help
STATISTICS
1 AWARD
4 TAGS
1 ARCHIVE
Financial
Accounting
Homework
and...
The
financial
accounts
which are
prepared...
1 FAN
1 SOURCE
SHARE
0
Return to the blog of tag-tutor
0 | 0 Comment
#Posted on Friday, 20 February 2015 at 10:44 AM
Financial Accounting Homework and Assignment Help in
USA
The financial accounts which are prepared should be fully reliable means there should be no error in
preparing the statement , the understandability should be good it means everything should be expressed in
the simple manner in the financial statement.
The field of accountancy is determine to give a full detail of the business in all ways the entries done to
maintain the accounts of the business in all manners which do includes the summary ,reporting of transaction
and analysis of accounts is known as financial accounting , it also includes all kind of preparation done in
maintain the financial accounts which is latter available to the public ,banks or stakeholders , there are two
general methods to maintain financial accounting one in the local method of accounting and the other one is
the international accounting standards ,the GAAP is the most common patter to frame the account books
under its guideline the financial accounting help are available for any kind of jurisdiction .
The basic and important objective to have in the business entity is to make the accounts available for the
public in simple manner so that the lenders and also the creditors of the business can know the financial
status of the company whereas according to the European Accounting Association the objective of financial
accounting is to compete the financial reporting , coming to the qualities of the financial accounting it should
be in a simple manner so that common public can understand the business progress , it should comply with
the following objectives , the relevance to the financial statement should be simple and it should be decision
specific , It should be influenced to take some specific decision there should be no cluttering in the statement
so that the characteristic should be good , when any kind of information is provided it is considered as material
, keeping in mind if there is omission in preparation of any kind of financial statement it can affect the
economic decision , the financial accounts which are prepared should be fully reliable means there should be
no error in preparing the statement , the understandability should be good it means everything should be
expressed in the simple manner in it , the comparability of the financial reports should be available to compare
with other financial years as it is helpful to the performance of the business from year to year , which is good
for the investors .
Most Used Terms of Financial Statement
There are five main components, first is the statement of the cash flow it is prepared with in the records book
to maintain the entries related to all kind of cash flow in the business it can be inward or outward in any reason
the basic concept of cash flow is to record the opening balance , the second is the preparation of profit and
loss statement which is helpful to the situation of the business profit ,next comes the statement of the financial
position it helps to know the financial position of the business in all manners for everyone ,then comes the
statement of change in the equity it shows the current stakeholders and there sharing in the business and the
last one is the note of the financial statement .
financial accounting help, USA financial accounting help, Finance Homework Help, Finance Assignment
Help
Comment
Log in
Visitor Confirm or post with:
Please enter the sequence of characters in the field below.
Hearts RemixCOMMENTS
MY ARCHIVES (1)
Financial
Accounting
Friends TweetTweet 0 00
Rechercher dans les blogs Create your BlogUsername Password OK
Generated with www.html-to-pdf.net Page 1 / 2