Objectives of Financial Accounting

Accounting is a combination of three processes: Process of identifying and recording the business transactions; Classification and summarization of recorded transactions; and Reporting that information in a specific manner in

There are internal and external users of financial information of a business and their needs to that information differ based on their respective roles. The table below summarizes the information

Accounting is divided mainly into three categories which include: Financial Accounting Financial Accounting is the recording of business transactions in the books of account so that the operating results of