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. 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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Finance & 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.

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Financial Accounting Tutor 11.0

The accounting equation (Assets = Liabilities + Owners’ Equity) and financial statements are the main topics of financial accounting. The Financial Accounting Tutor is a self-paced interactive tutorial software that teaches the logic underlying financial accounting concepts from an economics and finance perspective and accounting procedures from an information-systems perspective.

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