Purpose of Accounting



The Purpose of Accounting is to provide the information that is needed for sound economic decision making in business. The main purpose of financial accounting is to prepare Financial Statements that provide information about organization. Financial accounting is performed according to GAAP in America and IAS/IFRS in rest of countries with in the laws and rules of particular country.

Approaches of Accounting

purpose of accounting

 

purpose of accounting

 

>> Related Course Principles of Accounting.


References

Narayanswami, R. (2008). Financial Accounting: A Managerial Perspective. (3rd, Ed.) New Delhi: Prentice Hall of India.

Ramchandran, N., & Kakani, R. K. (2007). Financial Accounting for Management. (2nd, Ed.) New Delhi: Tata McGraw Hill.

Sehgal, A., & Sehgal, D. (n.d.). Advanced Accountancy (Vol. I & II). New Delhi: Taxmann Publication Pvt. Ltd.

Shukla, M. C., Grewal, T. S., & Gupta, S. C. (2008). Advanced Accountancy (Vol. I & II). New Delhi: S Chand & Co.

 

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