Question

write a journal article on financial accounting

Answer 1

JOURNAL ARTICLE ON FINANCIAL ACCOUNTING -

FINANCIAL ACCOUNTING - It is a process through which the financial data of a business is recorded and analyzed further. Basically, financial accounting does the quantification of results of a business in terms of finance. Due to maintaining such records of financial data, a business can set standards, calculate ratios, conduct the comparison intra business and inter bussiness, etc. and so on. By carrying out the above a bussiness can Excel in corporate world and achieve the financial goals and growth in less span of time.

Financial accounting is quantitative record of an organization, such accounting ignores the qualitative aspect of the organization, which is a much broader concept. For eg if the company's base of customer increased on year to year basis, then reason behind such increase won't be furnished by financial accounting, hence it provides only the qualitative results of an organization.

Financial accounting however, plays a mojor role in visualizing the growth and success of an organization in corporate world. Since, it has many features as stated above and also it helps in calculation of tax, helpful for all stakeholders especially the shareholders who are silent, etc. And so on.Hence, it can be said that quantitive recording of results, i.e.,FINANCIAL ACCOUNTING is of a great help to the entire corporate global village.