Accounting is a fundamental subject however after all this sometime find it more complicated to analyze the data, for putting it on the correct place and acquires the accurate solution. It is not always regarding the formulas and principals although the logical understanding of the specified assignment
Accounting is a subject that typically comprises of its three parts for various assignments:
Financial accounting: Financial accounting is mostly concerned with record-keeping aimed at the preparation of gain and loss explanation and balance sheet. It also concerned with the recording of the transactions regarding and affecting the business.
Cost accounting: Cost accounting is a method of accounting for costs. This is a logical practice for evaluating the unit cost of the output generated. The major feature of this portion of account is to estimate the cost of product and to aid the management in control of cost.
Both cost and financial accounting is apprehensive with the augment and arrangement of information to offer the prerequisite of management.
Both cost and financial accounting is apprehensive with the augment and arrangement of information to offer the prerequisite of management.
Management accounting: Management accounting is the fabrication of final account in such a method that can facilitate the management to take decision and to systematize the associated activities.
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