In large business organizations and in corporations, there is a separation of ownership Insurance Accounting and management functions. The management of such business are more concerned with the accounting information because they are answerable to the owners. Financial information should be presented in a simple and easy way so that the users i.e. investors, debenture […]
The primary output of the financial accounting system is the annual financial statement. The three most common components of a financial statement are the balance sheet, the income statement, and the statement of cash flows. In some jurisdictions, summary financial statements are available (or may be required) on a quarterly basis. These reports are usually […]