Accounting Homework Help

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Accounting Homework Help Definition of Accounting The American Accounting Association defines Accounting as, “ : The process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information!― Smith and Ashburne defined accounting “as the science of recording and classifying transactions and events, primarily of a financial character and the art of making significant summaries, analysis and interpretations of those transactions and events and communicating the results to persons who must take decisions or form judgments― (Singhal, R., 2009, pp1.1).

The basic aim of accounting is to provide information to others. Information in context of a business concern includes information about the financial and economic activities of the business. The method of recording, classifying and summarizing the above financial and economic information is known as accounting. The system used to record the transactions above is known as double entry bookkeeping system where all the accounting transactions are identified and recorded. After identification, recoding, classification and summarizing the accounting information, the next step is to communicate the accounting information to its users. Accounting information is communicated to the users through the medium of Financial Statements. The three most important financial statements are Balance Sheet, Income Statements and Cash Flow Statements.

The main purpose of financial statements There are mainly two motives behind the preparation of the financial statements.
 

To provide information about the financial position of the business. To show how the business has worked and performed over the reporting period (usually a year)

The above financial statements help the owners, investors and other users of financial statement in decision making. Email based Homework Assignment help in Basics of Accounting Tutors kingdom is the best place where you can clear all your doubts about basics in accounting. Student of every level from school, college or university level can approach us via email and we assure that we will provide you the accurate answer within the time given by u at the lowest price possible. This is possible because of 24 hrs availability of out tutors who are there to help you. Live Online Tutor Help for Basics of Accounting We have a wide pane

of tutors specialized in accounting to help you in case u need help by way of one to one session to solve all your accounting related problems. We have tutors to help you on every topic of Accountancy

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