Friday, 27 October 2017

How Financial Accounting is isolated place in business concern.

Financial accounting is mainly a periodic  statement that is prepared at the end of the year.  Mainly it divided into three major part that is Trading account, profit and loss account,  and last one is balance sheet.It reveals the companies financial condition in clear and systematic manner.It is base on double accounting system and accrual basis concepts. Financial Accounting Standards Board (FASB) is the organisation fix norms about the accounting standards. It is used in every business world and stream science, technology,Insurance sector, business sector, in every public and private sector.Now it become integral part of our life

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