Following a career as an accountant can be one of the best ways to invest in your education. Getting a degree in accounting has its advantages.Obtaining a degree in accounting puts you at a strategic advantage for any opportunity that may accelerate your position in this field.
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3. Accounting is just a more formal and
efficient version of those processes in the
context of a company. Companies use
accounting to keep their financial
information organized, which helps them
understand their financial data.
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5. Key objectives of accounting
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1. Recording
2. Planning
3. Decision
4. Performance
5. Position
6. Liquidity
7. Financing
8. Control
9. Accountability
10. Legal
11. Users
6. Types of Accounting
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Accounting is a broad and
dynamic profession and always
adjusts to the specific needs and
diverse users. Over the past few
decades, accounting has
branched out into various types
of accounting to meet the
diversity of user needs.
8. Purpose of Financial Statements
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The objective monetary economic
statements is to supply info concerning the
financial position, performance and
changes in monetary position of an
enterprise that's helpful to a good vary of
users in creating
economic selections (IASB Framework)
9. Statement of Changes in Equity
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Statement of Changes in
Equity, usually mentioned as Statement
of maintained Earnings in U.S. GAAP,
details the amendment in owners' equity
over AN accounting amount by
presenting the movement in reserves
comprising the shareholders' equity.
10. Statement of Cash Flows
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Statement of
money Flows, additionally
referred to as income Statement,
presents the movement
in money flows over the amount as
classified beneath
operational, finance and finance
activities.
