In this field of accounting student, employee, business enterprenour may have a platform to refresh the memory and have a great platform to strong in the field to running a business may grow. Financial Accounting will teach you the fundamentals of financial accounting from the ground up. You will learn how to prepare a balance sheet, income statement, and cash flow statement, analyze financial statements, and calculate and interpret critical ratios. You will also learn the role of managerial judgment in choosing accounting estimates and methods. The course concludes with an introduction to forecasting and valuation.

There are some key point of description of accounting:

• Regardless of the size of a business, accounting is a necessary function for decision making, cost planning, and measurement of economic performance measurement.

• A bookkeeper can handle basic accounting needs, but a Certified Public Accountant (CPA) should be utilized for larger or more advanced accounting tasks.

• Two important types of accounting for businesses are managerial accounting and cost accounting. Managerial accounting helps management teams make business decisions, while cost accounting helps business owners decide how much a product should cost.

• Professional accountants follow a set of standards known as the Generally Accepted Accounting Principles (GAAP) when preparing financial statements.