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Financial Accounting Dictionary for Android

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Key Details of Financial Accounting Dictionary

  • Financial accounting (or financial accountancy) is the field of accounting concerned with the summary, analysis and reporting of financial...
  • Last updated on February 7, 2019
  • There have been 1 updates

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Financial Accounting Dictionary 0/3

Developer's Description

Financial accounting (or financial accountancy) is the field of accounting concerned with the summary, analysis and reporting of financial...

Financial accounting (or financial accountancy) is the field of accounting concerned with the summary, analysis and reporting of financial transactions pertaining to a business.[1] This involves the preparation of financial statements available for public consumption. Stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders are examples of people interested in receiving such information for decision making purposes.

Financial accountancy is governed by both local and international accounting standards. Generally Accepted Accounting Principles (GAAP) is the standard framework of guidelines for financial accounting used in any given jurisdiction. It includes the standards, conventions and rules that accountants follow in recording and summarizing and in the preparation of financial statements.

On the other hand, International Financial Reporting Standards (IFRS) is a set of passionable accounting standards stating how particular types of transactions and other events should be reported in financial statements. IFRS are issued by the International Accounting Standards Board (IASB).[2] With IFRS becoming more widespread on the international scene, consistency in financial reporting has become more prevalent between global organizations.

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Full Specifications

GENERAL
Release
February 7, 2019
Latest update
February 7, 2019
Version
2.1.2
OPERATING SYSTEMS
Platform
Android
Additional Requirements
None
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Total Downloads
17
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0

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