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ACCOUNTANCY? It's Easy If You Do It Smart

Following a career as an accountant can be one of the best ways to invest in your education. Getting a degree in accounting has its advantages.Obtaining a degree in accounting puts you at a strategic advantage for any opportunity that may accelerate your position in this field.

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ACCOUNTANCY? It's Easy If You Do It Smart

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  1. Accounting www.homeworkminutes.com

  2. Introduction to Accounting Even if you are new to accounting, you may have noticed some use of accounting in your daily life. www.homeworkminutes.com

  3. Accounting is just a more formal and efficient version of those processes in the context of a company. Companies use accounting to keep their financial information organized, which helps them understand their financial data. www.homeworkminutes.com

  4. Accounting consists of 2 parts: • Book-keeping • Analysis www.homeworkminutes.com

  5. Key objectives of accounting 1. Recording 2. Planning 3. Decision 4. Performance 5. Position 6. Liquidity 7. Financing 8. Control 9. Accountability 10. Legal 11. Users www.homeworkminutes.com

  6. Types of Accounting Accounting is a broad and dynamic profession and always adjusts to the specific needs and diverse users. Over the past few decades, accounting has branched out into various types of accounting to meet the diversity of user needs. www.homeworkminutes.com

  7. Financial Accounting • Management Accounting • Governmental Accounting • Tax Accounting • Forensic Accounting www.homeworkminutes.com

  8. Purpose of Financial Statements The objective monetary economic statements is to supply info concerning the financial position, performance and changes in monetary position of an enterprise that's helpful to a good vary of users in creating economic selections (IASB Framework) www.homeworkminutes.com

  9. Statement of Changes in Equity Statement of Changes in Equity, usually mentioned as Statement of maintained Earnings in U.S. GAAP, details the amendment in owners' equity over AN accounting amount by presenting the movement in reserves comprising the shareholders' equity. www.homeworkminutes.com

  10. Statement of Cash Flows Statement of money Flows, additionally  referred to as income Statement, presents the movement in money flows over the amount as classified beneath  operational, finance and finance  activities. www.homeworkminutes.com

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