Accountancy, asked by Ads2994, 6 months ago

uses of financial accounting​

Answers

Answered by vaishnavisharma26
1

Answer:

Financial accounting is used to report the outcome of business operations in monetary form.

Financial accounting is also used to determine a companies financial position for a specific period in time. This process is repeated monthly, quarterly and annually.

Financial accounting is used to report the financial result of a company’s operations. Public companies are required to report their results to the public while private companies report to their owners.

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