What is the end product of a financial accounting?

Expert Solution

The end product of Financial Accounting are shown below:

Income statement: Trading and Profit and Loss Account is part of the income statement, it determines the financial position of business based on gross/net loss or profit.

Balance Sheet: Balance sheet is helpful in presenting the exact financial position of the business. It provides information about the assets and the liabilities in a business to users of the business information.

The end product of financial accounting are Trading account, Profit and loss account and Balance sheet.

Rajan kumar gupta answered 2 years ago

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What is the end product of a financial accounting?

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