Financial Accounting: Difference between revisions
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{{Learning concept | {{Learning concept | ||
|Description=Providing information about the financial resources, obligations, and activities of an economic entity that is intended for use primarily by external decision makers - investors and creditors. | |Description=Providing information about the financial resources, obligations, and activities of an economic entity that is intended for use primarily by external decision makers - investors and creditors. | ||
It is the phase of accounting that is concerned with reporting historical financial information to external parties, such as stockholders, creditors, and regulators. | |||
|Wikipedia reference=http://en.wikipedia.org/wiki/Financial_Accounting | |Wikipedia reference=http://en.wikipedia.org/wiki/Financial_Accounting | ||
}} | }} | ||
Latest revision as of 14:01, 27 January 2014
Description
Providing information about the financial resources, obligations, and activities of an economic entity that is intended for use primarily by external decision makers - investors and creditors.
It is the phase of accounting that is concerned with reporting historical financial information to external parties, such as stockholders, creditors, and regulators.
Concept Prerequisite
Wikipedia Reference
http://en.wikipedia.org/wiki/Financial Accounting
Learning Material
Covered in Topic(s)
| Accounting: Information for Decision Making |
| Managerial Accounting and the Business Environment |