FINANCIAL
ACCOUNTING
,• Business is an economic activity undertaken
with the motive of earning profits and to
maximize the wealth for the owners.
, FINANCIAL ACCOUNTING
• Financial accounting is a specific branch of
accounting involving a process of recording,
summarizing, and reporting the many of
transactions resulting from business
operations over a period of time.
• We know accounting is the systematic
recording of financial transactions and
presentation of the related information of the
appropriate persons.
, • Financial accounting is concerned with the
recording, classification, summarizing,
analysis, interpretation and communication of
business transaction information through
accounts and financial statements.
TYPES OF ACCOUNTING
1. Financial accounting
2. Cost accounting
3. Management accounting
ACCOUNTING
,• Business is an economic activity undertaken
with the motive of earning profits and to
maximize the wealth for the owners.
, FINANCIAL ACCOUNTING
• Financial accounting is a specific branch of
accounting involving a process of recording,
summarizing, and reporting the many of
transactions resulting from business
operations over a period of time.
• We know accounting is the systematic
recording of financial transactions and
presentation of the related information of the
appropriate persons.
, • Financial accounting is concerned with the
recording, classification, summarizing,
analysis, interpretation and communication of
business transaction information through
accounts and financial statements.
TYPES OF ACCOUNTING
1. Financial accounting
2. Cost accounting
3. Management accounting
