Introduction to Basic Accounting Concepts
Financial accountants generate financial statements based on usually accepted accounting principles of a respective country. Particularly cases financial statements have to be prepared as per to the International Financial Reporting Standards.
Financial accounting serves for the following purposes:
Objectives of Financial Accounting
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For accounting information to be helpful, the accountant must be unambiguous for whom the information is being ready and for what is the purpose of information that will be used.
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