Financial Accounting

Financial Accounting involve recording financial data and preparing financial statements of entity based on accounting standards or reporting frameworks.

  • Types of Financial Statements
  • Element of Financial Statements
  • Balance Sheet
  • Income Statement
  • Accounting principle
  • Assets
  • Liabilities
  • Retained Earning
  • Trial Balance
  • Financial Statements Analysis
  • And others importance topics related to auditing

Why is Working Capital Negative? (Explanation With Example)

Introduction: Working capital is the amount of a company’s current assets less current liabilities. This capital of a business is required to fulfill the daily trading operation of a business. Net working capital is normally positive when total current liabilities are less than total current assets. Negative working capital occurs when the current liabilities exceed

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How Difficult is an Accounting-related Job? Is It Really Stressing?

Accounting and finance are indeed competitive fields with different career options and good annual packages. Finance professionals and accountants can also set up independent firms or work as freelancers to grow their multiple income streams and increase their wealth. That’s why more and more students are eager to join the accounting field besides computer and

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What is Meant by Credited to Your Account?

Individuals and businesses must follow accounting procedures and regulations to report expenses, revenues, assets, liabilities, contingencies, etc. However, when you are just starting to understand accounting and financial reporting, the rules of debit and credit can be very confusing. Yet another confusion that exists is the difference between double-entry, single-entry, GAAP, IFRS, etc. It might

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What Is the Difference Between Adjusting Entries And Correcting Entries?

The purpose of accounting in any business entity is to properly record the financial transactions, classify them, and present them as useful information in financial statements and analysis. However, the financial statements and analysis can only be useful and fair if the recording and classification process of economic events and transactions has been done accurately.

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