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Financial Accounting

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Reading Consolidated Financial Statements

Most major corporations comprise numerous companies bought along the way to create their empires. The financial statement reflects the financial results for all the entities it bought as well as the original [more…]

What Is Financial Accounting?

Financial accounting involves the process of preparing financial statements for a business. This extravaganza involves three major components: accounting information, type of business entity, and user [more…]

The Differences between Managerial and Financial Accounting

Managerial accounting provides internal reports tailored to the needs of managers and officers inside the company. On the other hand, financial accounting provides external financial statements for general [more…]

10 Differences between Some National Standards and IFRS

You've probably heard the phrase 'it wouldn't do for us all to be the same' – well that's as true for the world of accountancy as it is in real life. Many countries around the globe still use their own [more…]

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