Financial accounting is the 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 encapsulates the company's operating performance over a specified period.
When we talk about business, the first thing that comes into our mind is money. Generally, that is the means and ends of for-profit entities- to keep earning money. To be able to do this, having the knowledge about accountability and management of money becomes a necessity to every businessman.
Businessmen must know how money revolves around his business, how to generate money, where the money came up from, how money is spent, and how to make use of the money. Basically, every businessman must know the past, present, and future of his business, in financial terms. To gain the knowledge of business and enter the business world with a bang sign up with the online rental library of ememozin and get the books with strategies of leading authors and businessmen.