Importance and Objectives of Financial Accounting

Jun 21st, 2015
Studypool Tutor
Price: $10 USD

Tutor description

Financial accountancy (or financial accounting) is the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners, and other stakeholders.

Word Count: 2301
Showing Page: 1/8
HTTP://PAKISTANMBA.JIMDO.COMFOR DOWNLOADING THIS REPORT AND FOR MORE PROJECTS, ASSIGNMENTS, REPORTS ONMARKETING,MANAGEMENT,ECONOMICSMARKETING MANAGEMENT,ACCOUNTING,HUMAN RESOURCE,ORGANIZATIONAL BEHAVIOR,FINANCIAL MANAGEMENTCOST ACCOUNTINGVISITHTTP://PAKISTANMBA.JIMDO.COMIntroductionFinancial accountancy (or financial accounting) is the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners, and other stakeholders. The fundamental need for financial accounting is to reduce principal-agent problem by measuring and monitoring agents' performance and reporting the results to interested users.Financial accountancy is used to prepare accounting information for people outside the organization or not involved in the day to day running of the company. Managerial accounting provides accounting information to help managers make decisions to manage the business.Objective of Financial Accounting (FA):The objective of financial accounting is to collect accurate, systematic, and timely financial data and other financial information, and to compile and consolidate it in an organized and systematic way, according to the principles and rules of accounting, for reporting purpose.The financial managers use these reports to assess the financial position of the company through various financial management tools and then the financial position can be compare

Review from student

Studypool Student
" Thank you, Thank you, for top quality work, this is your guy!! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1824 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors