financial accounting and its advantages

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Accounting Courses in Chandigarh
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Why is financial accounting needed?

• The goal of managerial accounting is to help
  company managers and supervisors make financial
  decisions, whereas the goal of financial
  accounting is to provide important financial
  information about your company to those outside
  of the business.

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What is the main purpose of financial accounting?

• The purpose of accounting is to provide the
  information that is needed for sound economic
  decision making. The main purpose of financial
  accounting is to prepare financial reports that
  provide information about a firm's performance to
  external parties such as investors, creditors,
  and tax authorities.

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Why do we need accounting?

• Because it communicates so much of the
  information that owners, managers, and investors
  need to evaluate a company's financial
  performance . In fact, the purpose of accounting
  is to help stakeholders make better business
  decisions by providing them with financial
  information.

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What is the main objective of financial
accounting?

• The Final Accounts. In a practical sense, the
  main objective of financial accounting is to
  accurately prepare an organization's final
  accounts for a specific period, otherwise known
  as financial statements. The three primary
  financial accounts are the income statement, the
  balance sheet and the statement of cash flows.

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What is the role of financial accounting?

• Role of Financial Accounting. In a business, the
  financial accounting function is responsible for
  periodically reporting pecuniary information to
  business owners. Interested parties such as
  regulators, customers, investors and creditors
  often require this financial information.

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Accounting Courses in Chandigarh
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