Financial Accounting Standard by Kumudini Thakor - Hardcover - College Books

The purpose of accounting is to provide the information that is needed for sound economic decision making. The main purpose of financial accounting is to prepare financial reports that provide information about a firm's performance to external parties such as investors, creditors, and tax authorities. Managerial accounting contrasts with financial accounting in that managerial accounting is for internal decision-making and does not have to follow any rules issued by standard-setting bodies. Financial accounting, on the other hand, ls performed according to Generally Accepted Accounting Principles guidelines. The book will provides a complete comprehensive review of the subject in a highly readable and understandable format. It also focuses on practical applications so as to teach how to deal with accounting and auditing. The salient features of this book are systematic arrangement and analytical presentation of the subject matter. It also has contemporary approach and comprehensive arrangement of related topics with insight from universities.