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What is the financial accounting..?

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Question added by Mujtaba Memon , Assistant , health
Date Posted: 2014/04/16
Abdul Wahab
by Abdul Wahab , Credit Controller , Takween Advanced Industries

It is the maintenance of daily record of ALL financial transactions in such manner that it would help in the preparation of suitable information regarding the financial affairs of a business or an individual.

Muhammad Imran
by Muhammad Imran , Ast Finance & Accounts Manager , Mohmand Dada Minerals (Pvt) Limited

Keeping track of records and creating a summary of financial transactions is called bookkeeping , When this information is produced and displayed in reports for the use of the public outside the company, this process is called financial accounting

Recording and evaluating the financial transaction with accounting proceduresand principles is called financial accounting.

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