Accounting: The Primary Function Of Financial Accounting

Accounting For the accounting, the primary function of the accountant is to develop and provide data to measure the performance of the firm (Dr. Castro), assess its financial position, and taxation. The accountants are responsible for preparing financial statement, like income statements, cash flows and balance sheets. Accountants are normally passive work, for the work has a very independent nature to it, such as prepare the forms and financial statements. This type of job is a good job to people who want to work independently and who are organized.

Most of the sources date modem accounting is beginning with the development of the double entry system (Clayton Browne, Demand Media). When we are using a double entry system in account, all

It is a sub-function of finance. Accounting generates information about business operations. Accounting of the final product is composed of financial reporting, such as balance sheets, profit and loss accounts and changes in income declaration and financial condition, including the statement to declare the sources and uses of funds. Stored in these financial statements and reports of AIDS in the analysis of future directors tendency past performance and companies to meet certain legal obligations and responsibilities like tax data.

Although produced in the past financial accounting-oriented reporting, which is based on generally accepted accounting practices comply with generally accepted accounting principles and IFRS / US GAAP. In order to prepare financial accounts / reports an entity must comply with these GAAPs and gaaps. Where the board of directors select the start and any changes in the financial period in which generally accepted accounting principles and practices implemented during the accounting period, the impact of the economic impact of the financial accounts of the entity's accounting practices and principles of these (financial report) is ready for the end of the financial period. When all the entities required implementing IFRS / US GAAP changes in the current fiscal year the same, then the impact of the entire

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