We will explain to you all terms related to Financial Accounting in this Tutorial in a very simple and easy way.
Meaning of Financial Accounting:
Basic or initial level accounting in which we are recording, summarising and analyzing day to day transactions of the particular business is called financial accounting. and at the end, we will get to know about the financial position of a business or an organization by preparing Profit/loss and balance sheet of business in a particular financial year.
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