Statements

Disadvantages / Limitations of Financial Statements

Those variables that should be considered by a user before placing too much reliance on financial statements are referred to as financial statement limits. Knowing about these variables might lead to a reduction in the amount of money invested in a firm or to steps being made to explore more. The following are all important … [Read more…]

Financial Accounting – Statements, Types, Principles

Financial accounting is different from managerial accounting which requires preparing of forecasts and detailed report for managers inside the company. Other branches of accounting include tax accounting, cost accounting and auditing. In this article we will look at various types of financial accounting along with the objectives of financial accounting. The purpose of financial accounting … [Read more…]