Are you troubled with your financial accounting case study? Then, you are in the right place. A case study is essential for any student pursuing their case study. It uses the concepts taught in the classroom and implements them in real business scenarios to study several factors. Financial accounting deals with preparing financial statements for decision-makers such as suppliers, stakeholders, banks employees, owners, government agencies, and other stakeholders. The basic need for financial accounting is to lessen the principal-agent problem by measuring and monitoring agents.
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What is financial accounting case study?
Financial accounting is concerned with collecting, organizing, and summarizing financial data and transactions daily, weekly, monthly, and annually. The compilation and report of these records are known as financial accounting and are used to help businesses display their investment and growth opportunities on financial accounting reports that can be used to secure investment capital. It is a specific subdivision of accounting used to track an organization’s financial transactions.
Why is financial accounting important?
It involves recording, summarizing, and presenting an organization’s or project financial performances along with the objective of securing funds from lenders or investors. It is vital for all types of businesses like small, medium, and large. It is essential to manage financial accounting to a high degree for any business, individual, or organization to grow. It ensures the business records, summarizes, and reports the financial status to educate the public, investors, and stakeholders. Keeping track of finances plays a vital role in securing investors’ interests and responsibilities that each entrepreneur and business owner must address to assure they retain stakeholders’ interests.
What are the types of financial statements in Accounting?
Financial statements are considered the mirror of the financial performance of any business in the last financial years. All profit and non-profit organizations require preparing them. The different types of financial statements are given below:
Profit and loss account/ income statement: The profit and loss statement delivers a detailed breakdown of the company’s profitability for each financial year. It is prepared after considering that the raw sales and purchase records, which result in a detailed financial year, need to be prepared to verify the overall income and expenses registered by a business monthly, quarterly, and annually.
Balance sheet: Unlike the profit and loss statement, which reviews the performance over a certain period, the balance sheet helps in determining the business’s current financial standing. A balance sheet comprises three key components like assets, liabilities, and equity that must be balanced at all times. Liabilities show the outstanding payments a business is required to make towards its operations, expenditures, and loans. Equity states the retained earnings, profits, and liquid cash that the business can use to enhance its asset base or payout liabilities.
Stockholders equity statement: This statement assists a business to reckon the retained earnings at the years’ end, which is reflected in the business’s balance sheet. The stockholders’ equity statement is created by including the returned earnings and net incomes then subtracting the shareholders’ dividend to reveal the income at year’s end. The equity statement first subtracts the liabilities from assets; then, the balance is divided into the stockholders’ equity.
Financial Accounting Case Study Assignment Topics
Financial accounting is a broad area that includes several different topics. All these topics help students broaden their conceptual study of students in other sections and make them efficient in the pursued field. If you feel difficulties writing a case study on these topics, you can take our professional writer’s help. Some of the topics are given below that roof under financial accounting:
- Accounting basics
- Accounting principles
- Accounting equation
- Accounting theories
- Accounting cycle
- Activity-based costing
- Adjusting entries
- Balance sheet
- Band reconciliation
- Bookkeeping
- Bonds payable
- Bookkeeping
- Cost accounting
How does financial accounting help in communicating the financial report?
Financial accounting plays a key role in reporting a business’s current financial standing, but more importantly, this information can be used to make proposals for lenders and investors if required. A well-organized and structured financial accounting statement allows the stakeholders to determine indicators immediately after the statement’s inspection. It is important for the financial accounting reports to have detailed statements and visual depictions of the findings to comprehend the financial accounting report easily.
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Accounting is one of the main subjects for masters’ students belonging to the finance and account sector. Most students face difficulties while preparing their financial accounting case studies. Making a case study on financial accounting requires sufficient knowledge in accounting, researching capabilities, and adequate time, which most students lack. Hence, they seek assignment help from reliable sources.
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