Explain the growth and Development of Financial Accounting.

Q: Discuss the history of Accounting?

A: Italy, birthplace of many of the world's most important historical figures like Michelangelo,…

Q: History of accounting?

A: What's the essence of the Accounting Profession ? :- it hasn't changed much over the time.…

Q: advantages of financial accounting

A: Answer are as follows

Q: What are the basic foundation of Accounting?

A: Accounting: Accounting is the practice of documenting financial transactions that occur in the…

Q: Explain why the accounting standards are necessary in financial reporting.

A: Accounting Standards are the rules and guidelines that are used for preparation of financial…

Q: Describe significant accounting policies.

A: Definition: Accounting policies: Accounting policies are the specific principles and rules which…

Q: When it comes to financial accounting, what is the most important function?

A: The most important function of financial accounting is to provide financial statements to the users…

Q: Explain the importance of financial accounting information for external parties—primarilyinvestors…

A: Financial Accounting:-Summarizing of all the transactions that occurred in the business during the…

Q: Going from general to specific, what are the three primaryobjectives of financial accounting…

A: Financial Accounting is the process by which an organization's revenue, receivables and expenses are…

Q: How to analyse the accounting measurement and financial measurement? Give examples

A: Accounting Measurements: Accouunting measurement is the computatiion of economic or financial…

Q: ‘The accounting concepts and accounting standards are generally referred to as the essence of…

A: INTRODUCTION  Financial Accounting refers to collecting , summarizing and presentation of the…

Q: Explain the economic environment of financial accounting.

A: The economic environment of financial accounting.

Q: What is the definition of a conceptual framework? Why is it vital to have a conceptual framework in…

A: Conceptual Framework: A conceptual framework logically explains connected aims and foundations that…

Q: Financial accounting information?

A: Introduction: Accounting: The process in which the financial transactions of the business entity are…

Q: Who uses the financial reporting model?

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: Describe the conceptual framework of financial accounting.

A: Conceptual Framework: A conceptual framework is a logical presentation of interrelated objectives…

Q: What is the purpose of reporting accounting theory?

A: This question explains about the purpose of reporting accounting theory

Q: Discuss the importance of accounting standards for the purpose of preparing financial reports.

A: Accounting Standard Accounting Theory

Q: How does financial accounting perform its fundamental function?

A: This question clarifies how financial accounting carries out its primary duty.

Q: Define Financial accounting.

A: Commerce:   It refers to a platform that facilitates buying and selling of products and services…

Q: Explain accounting principles.

A: Accounting principles: The conventions or rules those are required to prepare and report the…

Q: Conduct Applied Research on Accounting Theory and the Relevance to Financial Reporting.

A: Bookkeeping hypothesis could likewise be used to disclose existing practices to amass a superior…

Q: Explain the relationship of Social and Economic Accounting to Financial What are the features of the…

A: Answer: Social and economic accounting and financial are all related with each other. The basic…

Q: Accounting includes activities such as identifying, measuring, and communicating financial…

A: Being the language of business, accounting acts as the bridge between the business and the users of…

Q: What is a conceptual framework? Why is a conceptual framework necessary in financial accounting?

A: Conceptual Framework: A conceptual framework is a logical presentation of interrelated objectives…

Q: Explain how to develop financial accounting and reporting standards.

A: The financial accounting and reporting standards are created by IASB

Q: what are the accounting concepts? define in detail every one of them in financial accounting.

A: Accounting concepts are the basis of financial accounting. An accounting concept is a fundamental…

Q: Describe the function and primary focus of financial accounting.

A:

Q: Who Uses Financial Reporting and Analysis

A: Financial reporting is a day-to-day practice which helps the organization to keep the business…

Q: importance of Financial Accounting and Financial Reporting.

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: Explain why a regulatory framework is necessary in financial accounting.

A: The term regulatory framework in accounting refers to the set of rules and regulations that are…

Q: Discuss the terms relevance and faithful representation as they relate to financial accounting…

A: Financial accounting: It can be defined as the branch of accounting that is associated with the…

Q: What are financial accounting's two main functions?

A: The answer:

Q: In general, what is the conceptual framework that underlies accounting principles, and how  does it…

A: A conceptual framework can be defined as a system of ideas and objectives that lead to the creation…

Q: Illustrate the importance of the flow of information in accounting?

A: The importance of flow of information in accounting is of very high significance. The information…

Q: What are the strategies of Accounting Theory?

A: It involves the assumptions that guides the reporting and recording.

Q: Discuss the  meaning and needs of accounting standards.

A: Accounting standards:Accounting standards are common set of principles, procedures and standards for…

Q: Definition of Financial Accounting

A: Solution:- Definition of financial accounting as follows under:-

Q: What is meant by generally accepted accounting principles,and how do these principles add to the…

A:

Q: explain the fundamental qualities of accounting information

A: Accounting data would be supplied into an accounting information system, which processes data using…

Q: Principles in accounting

A: Basic Accounting assumption are broad concepts that underlie generally accepted accounting…