🏷️ Über: This app contains thousands of real exam questions for self learning & exam preparation on the topic of Financial Accounting, IFRS & GAAP. With our Advanced Smart Learning Technology, you can master the learning materials quickly by studying, practicing and playing at lunch, between classes or while waiting in line.
This app contains thousands of real exam questions for self learning & exam preparation on the topic of Financial Accounting, IFRS & GAAP.
Because external financial statements are used by a variety of people in a variety of ways, financial accounting has common rules known as accounting standards and as generally accepted accounting principles (GAAP).
Financial Accounting Exam prep uses proven study and test-taking strategies so that you’ll feel confident and ready to go when you have to take the Financial Accounting Exam.
If a corporation's stock is publicly traded, however, its financial statements (and other financial reportings) tend to be widely circulated, and information will likely reach secondary recipients such as competitors, customers, employees, labor organizations, and investment analysts.
It's important to point out that the purpose of financial accounting is not to report the value of a company.
Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions.
In the U.S., the Financial Accounting Standards Board (FASB) is the organization that develops the accounting standards and principles.
Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.
Companies issue financial statements on a routine schedule.
The statements are considered external because they are given to people outside of the company, with the primary recipients being owners/stockholders, as well as certain lenders.
With our Advanced Smart Learning Technology, you can master the learning materials quickly by studying, practicing and playing at lunch, between classes or while waiting in line.
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Corporations whose stock is publicly traded must also comply with the reporting requirements of the Securities and Exchange Commission (SEC), an agency of the U.S. government.
Rather, its purpose is to provide enough information for others to assess the value of a company for themselves.
