The importance of financial accounting

  • Jagjeet Singh,Dr. Anil Kumar,


Financial accounting" is a specific aspect of accounting that requires the long-term process of "documenting, summarizing and reporting" the various activities related to a business. In  accounting books, the document of the financial results of the business for a given period, including "the balance sheet, income statement and cash flow statement" such kind of transactions are recorded. Employment opportunities for a financial accountant can be discussed both in the developed and emerging economies. A "general accountant" who works for himself rather than directly for a corporation or organization may vary the duties of a chartered manager.