Financial Accounting is a systematical approach to prepare the financial statements of an organization is order to acquire the correct and fair view profit or loss. These financial statements are organized for selection generating, stockholders, Banker, Supplier, Shareholders, Government Agencies, as well as other stakeholders. The fundamental requirement to prepare financial statement is always to examine and minimize the dead expenses by measuring the expenses and income status and to reporting the result to interested users. These statements are organized for outsiders who don't take portion in day to day organizational activities.

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