Accounting Assignment Help

Accounting Assignment Help

Introduction to Accounting

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Accounting is a process that allows recording, processing, interpreting, summarizing, verifying and presenting of the financial transactions. Hence, the complete process of accounting forms a cycle, and can be termed as Accounting cycle. This Accounting cycle includes nine major steps. The initial step of this cycle is recording and the final step is presenting of record, also termed as accounting statements. All Financial records or transactions along with retrieving, summarizing, storing, sorting of the data which shows the reports profit and loss, in and out, transactions is called accounting. It’s a field of study and profession which is dedicated to carrying out those tasks. The other name of accounting is “language of business”.

If the businessman find the present and past record data or information which is related with business, it is important to manage a methodical record of transaction of business during the year. If the businessmen have a complete and systematic record, the businessman can know his profit and loss, purchases and sales, income and expenses during the year. When a businessman maintained or managed an account properly it’s very helpful in the evaluation of sales tax and income tax. Its helps in many types of government policies which is related to the accounting data.

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Why Accounting is important?

Every organization, individual, business or businessman is accountable for their business assets, finances, stocks, action and time. So that originations, individuals seems profit or loss in the business in current financial year. Businessmen can comparisons of the last business profit or loss so that they can find the suitable decision or making the policy for profitable business. Accounting provides a basic skill to every professional he must be master so that they can use accounting and excel in their career as well as report and respond on project performance.

1. Collection and study of data
2. Recording of transaction in Journal also called Journal Entry
3. Posting in Ledger
4. Preparation of unadjusted trial balance
5. Correcting record
6. Adjusting trial balance
7. Preparation of financial statements
8. Closing the records
9. Post- closing of trial balance

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Important steps involved in Accounting

These are 9 important steps involved in Accounting cycle. The process of Accounting is important for any Business firm since it is a medium that helps in identification of profit and loss in any business.

If you have any doubts on different subjects of Accounting, you can get in touch with our dynamic team. Our Accounting tutors will help you with the assignments and projects on Accounting. Our Accounting helper team has degrees from reputed universities. They can immediately solve your doubt providing all the necessary explanation on the topic. Till date, almost all the students seeking our Accounting homework help service are impressed by the solutions provided to them; so if you are looking for the best assignment help service, this is surely the right place.

Accounting is a key process of any business. Whether private sector or public sector, governmental or non- governmental organization; the process of Accounting is followed in every area. This is the reason this subject is also termed as heart of business. Hence, some of the important area of accounting are:

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Types of Accounting Assignment Help We offer

1. Financial Accounting: It mainly involves book keeping and preparation of financial statements. The main aim of financial accounting is to prepare a report on the economic performance of the company or firm.
2. Cost Accounting: This area is based on preparation of report on production and manufacturing cost of goods and services. Hence, cost accounting serve as an important tool in the decision making process.
3. Managerial Accounting: This area deals with the preparation of report on future values. Hence, Managerial Accounting focuses on confidential report making process of a firm.
4. Tax Accounting: This area of accounting focuses on filing of tax return of an enterprise as enforced by the government.
5. Auditing: Auditing is the area that involves examination of financial statement or record of the firm. Hence, it is done to maintain accuracy in the decision making process.
6. Non-Profit Accounting: This area of accounting deals with those statements and transactions that have the motive other than adding profit to the business. It includes charities, donations, events etc.
7. International Accounting: The accounting area that deals with the foreign exchange or foreign trade is termed as International Accounting.
8. Budgetary Accounting: This area of Accounting is based on the measurement of accepted plan or budget. The main aim of this accounting area is to help in control of budget.
9. Government Accounting: This system of accounting is developed to measure the inflow and outflow of government capitals or resources.
10. Accounting Education: This field is for those who have special interest in teaching and providing accounting knowledge and education to the interested students of this sector.

These are few listed areas that include the principle of accounting for smooth functioning of any firm or company. Though small firms or companies generally apply basic rules of accounting, still the principles are applied in all those areas that deals with monetary transaction.