Financial Accounting

May 13th, 2015
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The total asset turnover says that, for every 1$ worth of total asset, how much sales is generated by the company. After analyzing the financial statements of BATB, it has been seen that in the previous years, the company’s performance was good.

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Financial AccountingIntroduction 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. Managerial accounting contrasts with financial accounting in that managerial accounting is for internal decision making and does not have to follow any rules issued by standard-setting bodies. Financial accounting, on the other hand, is performed according to Generally Accepted Accounting Principles (GAAP) guidelines. Accounting Standards In order that financial statements report financial performance fairly and consistently, they are prepared according to widely accepted accounting standards. These standards are referred to as Generally Accepted

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