Discuss the objectives of financial accounting
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In a practical sense, the main objective of financial accounting is to accurately prepare the final accounts, otherwise known as the financial statements. The three primary financial accounts are the income statement, the balance sheet and the statement of cash flows.
Objectives. Financial accounting and financial reporting are often used as synonyms. ... To provide financial information about the reporting entity that is useful to existing and potential investors, lenders and other creditors in making decisions about providing resources to the entity.
hope it helps you
In a practical sense, the main objective of financial accounting is to accurately prepare the final accounts, otherwise known as the financial statements. The three primary financial accounts are the income statement, the balance sheet and the statement of cash flows.
Objectives. Financial accounting and financial reporting are often used as synonyms. ... To provide financial information about the reporting entity that is useful to existing and potential investors, lenders and other creditors in making decisions about providing resources to the entity.
hope it helps you
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the objectives of financial accounting
accounting is the process by which an organization's transactions are collected, measured, recorded and presented. This process is designed to accurately reflect business activity, help companies meet the requirements of the law, present financial accounts to business owners, allow for improved analysis and facilitate efficient resource allocation
accounting is the process by which an organization's transactions are collected, measured, recorded and presented. This process is designed to accurately reflect business activity, help companies meet the requirements of the law, present financial accounts to business owners, allow for improved analysis and facilitate efficient resource allocation
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