Professional Documents
Culture Documents
An Introduction
Interpreting the results- It provide the tools for their analysis, through
which various parties of business obtain information related to them.
Objectives or functions of
accounting
Knowledge of sales and purchase
Providing information of closing stock
Knowledge of financial position
Information related for working capital
Knowledge of profit & loss of the business
Provide information to various parties
Provide Information about embezzlement & frauds
Evidence in court.
Accounting Process
Recording of transaction (Journal entry)
Analysis of transactions
Branches of Accounting
Financial Accounting:- It is concerned with
recording and processing the financial
transactions which affect the financial
position of the business. It leads to the
preparation of income statement &
position statement of the business.
Cost accounting