which of the following is/are a surprise field(s) of accounting
Answers
Answer:
Sub-fields of Accounting
Accounting is a fairly wide term and encompasses within it many meanings and types of recording and analyzing activities. These various types of accounting are known as subfields of accounting. They include financial accounting, management accounting, human resource accounting, etc. Let us take a brief look at these.
Financial Accounting
Financial accounting largely concerns itself with the preparation and interpretation of financial statements and accounts of a company. It is mainly aimed at providing external users (such as shareholders, creditors, tax authorities etc) with the financial information that they require. The process begins with bookkeeping.
We say that financial accounting is historical in nature. It only records and summarises transactions after they have already taken place. And the final step of financial accounting is the preparation of the final accounts, which is the Profit & Loss Statement (also known as the Income Statement) and the Balance Sheet. This is done at the end of the financial year to determine the overall net profit or loss of the company. Financial accounting also summarizes the financial position of the company at the year-end.
Financial accounting generally uses the double entry system. It implements the principles of the Accounting Standards (AS) to maintain their financial records. Various accounting techniques are used to maintain these financial records via journals, ledgers, trial balance etc. The ultimate aim is to provide the users (stakeholders of the company) with all the financial information they may require in a fair and systematic manner.
Answer:
Molar concentration is a measure of the concentration of a chemical species, in particular of a solute in a solution, in terms of amount of substance per unit volume of solution. Wikipedia