Financial Accounting

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Erny98

Business Finance

Saudi electronic university

Description

How Financial accounting can influence Social Responsibility

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College of Administration and Finance Sciences Add Project Title Course Name: Financial Accounting Student’s Name: Course Code: ACCT 201 Student’s ID Number: Semester: 2nd Sem 2023-2024/ 1445 H CRN: Instructor: Dr Fathimunisa Hanfy Marks Obtained: - -/10 High/Middle/Low Introduction Importance Definitions Methodology Cost Accounting data Interpretations Interpretations Discussion Conclusion References Thank you Note
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Attached.

College of Administration and Finance Sciences

The Importance of Financial Accounting
Course Name: Financial Accounting

Student’s Name:

Course Code: ACCT 201

Student’s ID Number:

Semester: 2nd Sem 2023-2024/ 1445 H

CRN:

Instructor: Dr Fathimunisa Hanfy

Marks Obtained: - -/10

High/Middle/Low

Introduction
Financial accounting plays a pivotal role in providing transparent and reliable information about an
organization's financial health and performance. This information is crucial for various stakeholders, including
society and shareholders, as it enables informed decision-making and promotes accountability.
Financial accounting is the process of recording, summarizing, and reporting financial transactions to provide an
accurate representation of an entity's financial position and performance. The importance of financial
accounting lies in its ability to communicate complex financial data in a standardized and understandable
manner, allowing stakeholders to assess the organization's profitability, liquidity, and overall financial stability.
The methodology for financial accounting involves gathering and organizing data from various sources, such as
invoices, receipts, and bank statements. This data is then recorded in the appropriate accounting records,
following generally accepted accounting principles (GAAP) or international financial reporting standards (IFRS).
The information is then analyzed and presented in the form of financial statements, including the balance sheet,
income statement, and cash flow statement.
For this project, we will analyze the financial accounting data of TechVantage, a prominent Information
Technology firm. By utilizing both qualitative and quantitative data, we will examine how the company's
financial information can benefit society and shareholders. The discussion will delve into how transparent and
reliable financial reporting contributes to economic stability, informed investment decisions, and accountability
within the corporate landscape.
.

Importance of Financial Accounting
Transparency and
Reliability

Informed Decisionmaking

Accountability

Financial accounting

By analyzing a company's

companies accountable for

p...


Anonymous
I was struggling with this subject, and this helped me a ton!

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