Hey Friends,
Financial Accounting is a very important subject for all management and BBA students.Now, you can download the PDF and study from these handouts. There are more lecture notes that i have on some important topics of Financial Accounting management, i will also share them soon.However, you can comment in the box below if you want some other ebook.CLICK HERE to download another ebook on Financial Accounting.The topics covered in this ebook are as follows:
Financial Accounting
INTRODUCTION TO ACCOUNTING
Meaning and Definition of Accounting
Accounting has rightly been termed as the language of the business. It records, classifies, analyses and communicates all the business transactions that have taken place during a particular period. It is a system of recording and reporting business transactions in financial terms, to interested parties.
According to American Institute of Certified Public Accounts “Accounting is the art of recording, classifying and summarizing in a significant manner in terms of money, transactions and events which are , in part at least, of a financial character and interpreting the results there of”. Thus accounting is the art of recording, classifying, summarizing, analyzing and interpreting the financial transactions and communicating the results thereof to the interested person.
Features or characteristics or nature of Accounting
Following are the features of accounting:
Objectives of Accounting or functions of accounting
The following are the main objectives:
Financial Accounting is a very important subject for all management and BBA students.Now, you can download the PDF and study from these handouts. There are more lecture notes that i have on some important topics of Financial Accounting management, i will also share them soon.However, you can comment in the box below if you want some other ebook.CLICK HERE to download another ebook on Financial Accounting.The topics covered in this ebook are as follows:
Financial Accounting
INTRODUCTION TO ACCOUNTING
Meaning and Definition of Accounting
Accounting has rightly been termed as the language of the business. It records, classifies, analyses and communicates all the business transactions that have taken place during a particular period. It is a system of recording and reporting business transactions in financial terms, to interested parties.
According to American Institute of Certified Public Accounts “Accounting is the art of recording, classifying and summarizing in a significant manner in terms of money, transactions and events which are , in part at least, of a financial character and interpreting the results there of”. Thus accounting is the art of recording, classifying, summarizing, analyzing and interpreting the financial transactions and communicating the results thereof to the interested person.
Features or characteristics or nature of Accounting
Following are the features of accounting:
- Accounting is an art
- Accounting is a science
- Recording of business transaction
- Classifying business transactions
- Summarizing the classified data
- Analysis and interpret the summarized data
- Communicating information to the interested parties
- Records transaction and events which are financial character
Objectives of Accounting or functions of accounting
The following are the main objectives:
- To keep systematic records
- To ascertain the operational profit or loss
- To ascertain the financial position of the business
- To make information available to various users
- To protect business properties
- To facilitate rational decision making
- To ascertain the cost of production and selling price
- To control expenditure of business
- To satisfy the requirements of law
- To calculate the amount due to an due from others
Content Syndicated from: BBA-Core-Financial Accounting pdf,lecture notes,ebook download
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