Accounting or accounting system in any business or economy is an important part of managing your valuable money. Because without money you don't calculate the profit and losses and your financial activities. So it's very helpful for determining your financial activities and money management. Accounting should be so designed the meet these new objectives also. The management … [Read more...] about 11 Important Needs of Accounting (with Examples)
Accounting
9 Main Branches of Accounting (with Examples)
Accounting is a powerful tool for managing and analyzing the financials of a company and making good financial plans and productive money management. So, in the different sectors and industries, there are different accounting solutions available for their need and usages or you can say there are different types of accounting available for all different types of … [Read more...] about 9 Main Branches of Accounting (with Examples)
Balance Sheet – Format Explained (With Examples)
The balance sheet shows the financial status of the business on a fixed date. This date is usually the last date of the accounting year. The balance sheet also gives information about the refining capacity of the institutions. Why We Need a Balance Sheet? Position Statement, from the balance sheet, believes that the business is not bankrupt and it is moving towards the … [Read more...] about Balance Sheet – Format Explained (With Examples)
What are the Types of Financial Statements for Reporting? (With Examples)
The financial statement reflects the financial position and profit loss and cash status of any institution. The financial statements are the formats, which provide financial data to be listed and understood. Financial statements should generally be prepared in accordance with approved accounting principles. Because, if each business accounting book is used in the … [Read more...] about What are the Types of Financial Statements for Reporting? (With Examples)
Top 11 Features of a Ideal Financial Statement (With Examples)
The main purpose of financial statements is to provide the necessary information for accounting users of these particulars. It has various uses in financial statements - equity holders, appointees, financial institutions, employees, etc. Thus, there is a different interest. Generally, it is not possible for an institution to prepare these details in a format that is … [Read more...] about Top 11 Features of a Ideal Financial Statement (With Examples)