Online Accounting Courses

Financial accountancy (or financial accounting) is the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners, and other stakeholders.

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NEW ONLINE COURSE FOR FINANCIAL ACCOUNTING

Financial accountancy is used to prepare accounting information for people outside the organization or not involved in the day to day running of the company. Managerial accounting provides accounting information to help managers make decisions to manage the business. The fundamental need for financial accounting is to reduceprincipal-agent problem by measuring and monitoring agents’ performance and reporting the results to interested users.

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The accounting equation (Assets = Liabilities + Owners’ Equity) and financial statements are the main topics of financial accounting. The trial balance which is usually prepared using the Double-entry accounting system forms the basis for preparing the financial statements. All the figures in the trial balance are rearranged to prepare a profit & loss statement and balance sheet.

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