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Financial accountancy is the concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners, and other stakeholders. Financial capital maintenance can be measured in either nominal monetary units or units of constant purchasing power. The fundamental need for financial accounting is to reduce principal-agent problem by measuring and monitoring agents’ performance and reporting the results to interested users.
Use of Financial accounting is limited to the externals of a company. It is used to prepare reports for the people outside the organization. In other words, financial accounting is the process of summarizing financial data taken from an organization’s accounting records and publishing in the form of annual (or more frequent) reports for the benefit of people outside the organization.
In accounting, there are several branches which are used for numerous purposes. Particularly, there are six most common branches of accounting. The branches of accounting are Management Accounting, Fund Accounting, Tax Accounting, Auditing, Financial Accounting, and Forensic Accounting. All these branches have played an essential role in the business. Accounting procedures creates the transparency in the business. In addition, all these branches of accounting are discussed below in the given manner:
Management accounting is one of the branches of accounting. In this branch of accounting, financial statements are presented to the managers so that they will analyze the financial condition of the company. Financial statements contain financial information about a particular company or business. They provide real time as well as complete and accurate information to the senior management of the company. Financial information is quite essential for management in order to make objectives or strategies for the company. In addition, it is also help in making the short term decisions after seeing the previous information. A number of processes are involved, if the management wants to make a successful strategy or objective. These processes are planning, implementation, and evaluation. It is necessary that the objective should be well planned, its implementation should also be properly organized and the evaluation criteria should developed in order to analyze the results of the objectives. Hire us for A grade Accounting Assignment Help and Accounting Homework Help.
A large number of non-profit organizations that include Human Welfare Organizations or NGO’s are used this branch of accounting. In order to record their revenues as well as expenditures, the non-profit organizations hire fund accountants. These accountants use their knowledge to maintain financial accounts of non-profit organization. Get your A grade Accounting Assignment solution and Financial Accounting Assignment answers from us. Fund accountants are responsible to record the earning and spending, compose the financial statement on monthly, quarterly, semiannually, or annually basis, and formulate the NAV (Net Asset Value) on a regular basis. Accounting assignment help in Australia is being preferred by the students with no 1 Australian accounting assignment brand i.e. Punjab Assignment Help. Accounting assignment solutions are readily available with us depending on the requirement for the quality and time.
Tax accounting is mainly followed by the government and regulation authorities. This type of accounting is generally focuses on the process of tax collection. The process to record the tax amount is paid by the companies, businesses or individuals, etc. is called as the tax accounting. Each country has its own procedures or tax ratios for the individuals or companies. The essential difference between the financial accounting and tax accounting is that tax accounting comprises on the laws of tax collections; whereas the financial accounting is based upon the operating activities of a business. So, come and witness best accounting and finance assignment help in Australia with cheapest range of prices and best services. You can also avail accounting assignment examples from our experts so as to help them in accomplishing your assignment. In addition to accounting assignment solutions, we also expertise in Finance assignment help services in Australia as well.
Some of the major topics on which accounting assignments are being developed by Punjab Assignment Help include taxation, cost benefit assignment help, forensic accounting assignments, cost accounting assignments, ratio analysis assignments and activity based costing assignments etc. We offer 100% plagiarism free, reasonably priced, well referenced (APA or Harvard) and timely services for your assignment to secure high grades.