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Overview of Financial Accounting

Financial accounting involves recording, summarizing and reporting business transactions over time which are then summarized in financial statements; financial accountants work in both public and private sectors and may have differing duties than general accountants.

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Angiely Visca
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4 views1 page

Overview of Financial Accounting

Financial accounting involves recording, summarizing and reporting business transactions over time which are then summarized in financial statements; financial accountants work in both public and private sectors and may have differing duties than general accountants.

Uploaded by

Angiely Visca
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd

Financial Accounting

Financial accounting is a specific branch of accounting involving a process of


recording, summarizing, and reporting the myriad of transactions resulting
from business operations over a period of time. These transactions are
summarized in the preparation of financial statements—including the balance
sheet, income statement, and cash flow statement—that record a company’s
operating performance over a specified period.

Work opportunities for a financial accountant can be found in both the public
and private sectors. A financial accountant’s duties may differ from those of a
general accountant, who works for themself rather than directly for a
company or an organization.

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