Accounting is the means of reporting financial information about a business to shareholders, creditors, government agencies or any other interested person. Though the subject is interesting, owing to the use of formulas, accounting principle and concepts, it becomes difficult for students decide on the apt presentation format to express their data and conclusions and this is where many of them need help with their accounting assignment.
Also, the presentation needs to be done keeping in mind the Generally Accepted Accounting Principles or GAAP (US) or Generally Accepted Accounting Practice or GAAP (UK), changing trends and practices in accounting. The theories and concepts in accounting need to be very clear to the writer to enable him to develop a logically sequenced assignment. The student may find it difficult to think out of the box to convert the theoretical classroom sessions into practical situations. Our accounting assignment help groups are there to help such students in their assignment season.
We offer accounting assignment help in the following accounting areas:
- Cost accounting
- Managerial accounting
- Financial Accounting
Cost accounting: – Cost Accounting is the process of accounting for costs to improve cost control and cost efficiency. In cost accounting we compute the unit cost of output produced or services rendered. It is important to know about cost of products to help the management in decision making regarding price and product mix. Standard cost accounting, activity based costing, marginal costing, throughput accounting are some of the approaches to account for the various elements of cost like material, labor and overheads. A recent phenomenon in cost accounting is the Activity based costing which divides the organization into various activities and assigns the cost of each activity on the basis of actual consumption.
Management accounting: – Management accounting means use of final accounts to facilitate organizational management to take decision, to maximize profits/ minimize losses and to control business activities. It is computed with reference to the needs of managers using Management information systems. For example, the American Institute of Certified Public Accountants (AICPA) has clarified that management accounting extends to three areas namely Strategic Management, Performance Management and Risk Management.
Financial Accounting: – Financial accounting is recording and reporting of activities and transactions affecting monetary resources of the company based on the following basic universal concepts called Accounting Principles, Assumptions and modifying conventions. The four financial statements that are prepared to analyse financial data/transactions of the business are Balance Sheet, Income statement, Statement of Owner’s equity and Cash flow statement. The main objective behind Financial accounting is to ascertain the financial position of the company, ensure control over assets and provide the results of the business. Financial accounting serves the following purposes like producing general purpose financial statements, information for management in decision making, planning and performance evaluation and producing financial statements for meeting regulatory requirements (financial reporting is required by all public U.S. companies).
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