What is accounting?
Accounting is the process of measuring and recording the financial transaction of the business. It includes analyzing and reporting the transaction of various agencies. The report generated by various types of accounting such as cost accounting, managerial accounting help the management to take business decisions. An accounting maintains the transaction record systematically of the company. If any business professional wants to know the profit and loss of the company at the end of the year they can easily check this.
Why is accounting assignment help important?
Accounting is a discipline that is part of any business. Accounting helps to analyze the company’s financial position and the value in the market. Accounting requires more knowledge and expertise of the subject. When the students are given the assignment by the college professor they seek accounting assignment help to score good marks in exams.
On the other hand, students seek accounting assignment help due to the burden of academic pressure. Accounting assignment needs the depth knowledge of taxes, stocks, and market which take lots of time to research. So the students require the accounting assignment help from the accounting assignment helper. Accounting is the most demanding course for students across the world. With the accounting assignment help, the students develop their knowledge and understanding of the subject.
Various Branches of Accounting
- Financial accounting- Financial accounting analyzes and records the transaction of the company. It involves preparing the balance sheet and profit loss statement which informs the management regarding loans and acquisitions.
- Managerial accounting- Managerial accounting provides the information of the company’s internal structure. It works to improve the company’s administration and enhance the profit of the company.
- Cost accounting- Cost accounting analyzes the manufacturing cost to prepare the record that informs the decision-maker how to reduce cost and when to spend.
- Auditing- Auditing is the branch of accounting that monitors a business to accurate reporting with law and regulation.
- Tax accounting- Tax accounting is the study of various taxes. Tax accountants calculate income taxes and other types of taxes in business.
- Project accounting- The construction and engineering enterprises work on many projects. This accounting analyzes the cost of the project and tracks the progress of the project.
- Fund accounting- Fund accounting works with a non-profit organization. It calculates the accurate allocation of the fund.
- Government accounting- Government accounting tracks the movement of money through various agencies.
- International accounting- It analyzes the foreign exchange and trade of the business from one country to other.
Advantages and Disadvantages of Accounting Assignment Help
According to accounting assignment helper, accounting has both sides that are advantages and disadvantages. Students should aware of them.
Advantages
- Informs Financial Condition- Accounting represents all the financial transactions of the company.
- Comparative Study- The format of accounting is the same for any business organization. So it can easily compare the performance of the company.
- Reveals Profit and Losses- An accounting maintain all the transaction record of the company. The financial st5atement includes the profit and loss of the company.
- Verify Accounting Accuracy- Using the features of accounting such as trial balance, ledger we can easily check the accuracy of the accounting.
Disadvantages
- Expresses Information of Accounting in terms of Money- Non-financial transactions can’t be furnished in the account book, only financial transactions can be calculated by this.
- Accounting Information is based on Estimates- There are few data that are based on estimates. It does not show the effect of changes in the price level.
- Knowledge of Bookkeeping- It requires a deep knowledge of accounting and maintaining the account book. It is impossible for being capable of everyone.
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