financial accounting assignment help
Financial accounting is that branch of accounting that deals with providing all the areas of the business with accounting reports and analysis. It is of two types – cash accounting and accrual accounting.
Financial accounting is summarized in the form of financial statements that relate to the 5 functions of accounting and financial data namely revenues, expenses, assets, liabilities and equity.
Where revenue and expenses get reported in the income statement, assets, liabilities, and equity are reflected in the balance sheets.
For a student to pursue financial accounting, the understanding of the basic rules of accounting becomes very important. It is also important for the student to have the knowledge of the treatment that various adjustments need in the statement of accounts.
In addition to this, only the knowledge of such subject matter is not enough for the students as they also need to have the ability to apply them in business scenarios.
Therefore, application, as well as the knowledge of financial accounts, is imperative to pursue the course of financial accounting.
The understanding of each aspect of financial accounting requires a huge amount of time, effort and passion towards the subject.
Now, a student has a number of subjects when pursuing a degree and each subject requires time and effort on the part of the student.
If a student puts in all their time in financial accounting or any other subject, chances are high that their other subjects would suffer. This might lead to non-submission of assignments or non-availability of time to study for examinations.
To help you come out of such a problem, VAH offers you our expertise and guidance to help you complete your assignments as well as provide you with concept clarity that would save up your time during self-study.
You can think of VAH as a platform that acts like your tuition teacher. As a tuition teacher, we also aim for the success and betterment of our users. We make sure that they achieve the highest grade in their assignments.
This is done by providing you with assignments that are quality-driven, unique, professional and relevant to your subject matter. We ensure that the assignments made meet your specifications as well as expectations and are delivered to you within the deadline with multiple revisions.
In terms of the subject of Financial Accounting, our team brainstormed together and has come up with some question-answers that are relevant and basic to the subject. These question-answers are answered in brief and throw a light upon the various aspects of Financial Accounting.
These questions are as follows:
What is the main role of Financial Accounting?
The main role of financial accounting includes producing:
Financial statements for the general purpose
Information relevant to the business for decision making
Information relevant to the business for planning their strategies
Information relevant to the business for performance evaluation
Financial statements that help the business to meet their regulatory requirements
What are the types of financial statements?
Financial statements can be of the following types:
What are the advantages of financial accounting?
The advantages of financial accounting include but are not limited to:
It helps to maintain business records
It helps in the preparation of the financial statements
It helps in comparing various results
It helps in decision making
It serves as evidence in case of legal matters
It provides the required information to all the related parties
It helps in the matters of taxation
It provides assistance in business valuation
It helps in the replacement of memory
What are the disadvantages of financial accounting?
The disadvantages of financial accounting include but are not restricted to:
It expresses all the accounting information in monetary terms only
Accounting information that is provided is mostly based on estimates
There may be a bias in the accounting information that is provided
Fixed assets are recorded at original cost only
It is possible to manipulate the accounts
The measurement unit used in accounts, that is money, may change in their value
So, in case of difficulty in time management or understanding the concept or for any other reason that makes it impossible for you to complete your assignment, you can contact us for assignment help in any subject as our team consists of PhD experts from over 100 subjects that are present across the globe to provide you with continuous 24*7 service.