ID UB09175BAC16024
000AIU financial Accounting I II ternary IV
An essay
fiscal Accounting
ATLANTIC INTERNATIONAL UNIVERSITY
HONOLULU, HAWAII
SUMMER 2011
T A B L E OF C O N T E N T S
Introduction ……………………………………….......................03
ratiocination Making And The Role of Accounting ……………………..04
Elements of Financial Statements …………………………………….06
Understanding the Requirements for Preparing IFRS Financial Statements …………………………………………………………………09
How to Implement a Standard Chart of Accounts Effectively ……11
Preparing The Financial statements …………………………………..16
References ………………………………………………………………….17
Introduction
The Users of accounting training be external users and Internal users. immaterial users of accounting instruction include investors, creditors, customers, suppliers, employees, government, organizations. Financial accounting provides information for external users.
Financial accounting information is used for finish making by external users, such as investors and creditors. With this information the external users are to a greater extent able to take a decisions to buy or sell the shares of the entity, to loan money to the entity, to squander sales or purchase transactions with the entity, to impose taxes.
For example, IBM has more than 600,000 shareholders. Obviously, each shareholder cannot participate directly in the foot race of IBM, and because IBM needs to maintain various trade secrets, its many thousands of shareholders are not permitted access to much of the firms information. Because of this, shareholders set apart most of their decision making power to the corporations board of directors and officers. Shareholders, however, need information to evaluate the performance of the art and the advisability of retaining their investment in the business. Financial accounting provides some of the...If you sine qua non to get a full essay, order it on our website: Orderessay
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