Introduction to accounting
Accounting is regarded along with communicating, analysing and collecting financial information. The reason is to assist people who use this information to make more right decisions. There would be no point in producing it, if the financial information which is communicated is not able of enhancing the quality of decisions made. Occasionally the notion is provided that the aim of accounting is just to get ready financial reports on a regular basis. When it is true that accountants take on this type of work, it does not demonstrate an end in itself. The final aim of the accountant's work is to provide people good financial information on which to base their decisions.
Meaning of Accounting
The Committee on Terminology set up through the American Institute of Certified Public Accountants formulated the subsequent definition of accounting in 1961:
"Accounting is the art of classifying, recording, and summarizing in an important manner and in terms of money, transactions and events that are, in part at least, of a financial character, and interpreting the result thereof.
According to this definition, accounting is just an art of record keeping. The process of accounting starts through first identifying the events and transactions that are of financial character and then be kept in the books of account. This recording is made in Journal or subsidiary books, also termed as primary books. Each good record keeping system involves appropriate classification of transactions and events and their summarization for ready reference. After the transaction and events are kept, they are transferred to secondary books. That is Ledger. In ledger transactions and events are categorized in terms of income, expense, assets and liabilities according to their characteristics and summarized in profit & loss account and balance sheet. Fundamentally the transactions and events are to be computed in terms of money.
The meaning of measurement in terms of money is measuring at the ruling currency of a country, for instance, rupee in India, dollar in the U.S.A. and so on. The transactions and events must contain at least in par, financial characteristics. The inauguration of a latest branch of a bank is an event without containing financial character, when the business disposed of through the branch is an event containing financial character. Accounting also interprets the classified, recorded, and summarized transactions and events.
Latest technology based Financial Accounting Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Introduction to Accounting homework help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Introduction to Accounting, project ideas and tutorials. We provide email based Introduction to Accounting homework help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Introduction to Accounting. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Financial Accounting homework help and assignment help services. They use their experience, as they have solved thousands of the financial accounting assignments, which may help you to solve your complex issues of Introduction to Accounting. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
tutorsglobe.com hydrophytes assignment help-homework help by online hydrophytes-mesophytes-xerophytes tutors
Theory and lecture notes of Transaction management all along with the key concepts of transaction management, operating system, Transaction descriptor, Process, Transaction instance. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Transaction management.
Theory and lecture notes of Dynamic Characteristics III, all along with the key concepts of Inverter Fall Time, Storage Time and Rise-Time. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Dynamic Characteristics III.
Theory and lecture notes of Concurrency problems all along with the key concepts of concurrency problems, Lock management, Lost Updates, Dirty Read, Un-repeatable Read. Tutorsglobe offers homework help, assignment help and tutor’s assistance on concurrency problems.
A plastic in a very broad sense is defined like any non-metallic material which can be moulded to shape.
Never again miss submission deadline with our top-rated Chordates Assignment Help services of PhD tutors and live stress-free.
tutorsglobe.com barrier techniques assignment help-homework help by online contraception tutors
Air-borne nematode tutorial all along with the key concepts of Enterobius vermicularis, human pin-worm, Morphology of Enterobius vermicularis, Life cycle of Enterobius vermicularis
Advantages of Job Costing - Correct information is available concerning to the cost of the job completed and the profits generated from the same.
www.tutorsglobe.com offers Administration Overheads homework help, assignment help, case study, writing homework help, online tutoring assistance by accounting tutors.
www.tutorsglobe.com offers answering questions to measures to curb inflation, inflation theory and tutorial and economics assignment help - homework help.
There is broad agreement that financial reporting standards have enhanced the quality of financial statements. However, we should be aware to the potential problems related with their use.
www.tutorsglobe.com offers shape of molecules homework help, shape of molecules assignment help, online tutoring assistance, organic chemistry solutions by online qualified tutor's help.
tutorsglobe.com protoplast fusion assignment help-homework help by online biotechnology tutors
www.tutorsglobe.com offers Advantages and Disadvantages of Data Dictionary homework help, assignment help, case study, writing homework help, online tutoring assistance by computer science tutors.
1937090
Questions Asked
3689
Tutors
1479699
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!