What is accounting, Financial Accounting

Assignment Help:

What is accounting?

Accounting is concerned with analysing, collecting as well as communicating financial information. Purpose is to help people who use this info to make more informed decisions. If financial information which is communicated isn't capable of improving the quality of decisions made, there would be no point in producing it. Sometimes impression is given that purpose of accounting is basically to prepare financial reports consistently. Though it's true that accountants undertake this kind of work, it doesn't signify an end in itself. Ultimate purpose of the accountant's work is to give people better financial information on which to base their decisions.

 


Related Discussions:- What is accounting

What is the required rate of return, a) Company X is expected to maintain a...

a) Company X is expected to maintain a constant 7% growth rate in their dividends, indefinitely. If the company has a dividend yield of 4%, what is the required return on their sha

Determine pension expense for the year ended december 31, Part A: The follo...

Part A: The following information relates to Company A's defined benefit pension plan during the current fiscal year: Plan assets (beginning of the year) $400 (all number are in $m

What amount of loss, On January 1, 2011, Doty Co. redeemed its 15-year bond...

On January 1, 2011, Doty Co. redeemed its 15-year bonds of $2,500,000 par value for 102. They were originally issued on January 1, 1999 at 98 with a maturity date of January 1, 201

Practice Test, I need help with a practice test so I can study well for my ...

I need help with a practice test so I can study well for my midterm soon this week.

Determine the total production requirement for the month, A Company policy ...

A Company policy calls for keeping safety-stock equal to 25% the forecasted demand for that month.  The company currently has a work force of 12 people.  It takes a worker 3 hours

Powers of investment-trust laws and accounts, POWERS OF INVESTMENT The ...

POWERS OF INVESTMENT The trustees have a duty to obtain control of trust assets and to invest trust funds in authorised securities.   The trustees may invest in such securities

Determine the term- balancing risk and return, Determine the Balancing ris...

Determine the Balancing risk and return All decision making involves future and business decision making is no exception. Only thing certain about the future, though, is that w

Interest is deductible on schedule a, Heather & Terry have a mortgage on th...

Heather & Terry have a mortgage on their primary residence of $750,000 and a mortgage on their vacation home of $410,000. In 2013, they incurred $46,400 of mortgage interest expens

Prepare a cash budget for each of the first three months, Question : Th...

Question : The subsequent data pertain to a shop. The owner has made following sales forecasts for the first 5 months of the coming year.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd