Accounting Books

There are three broad categories: financial accounting books, costing and management. Accounting should be distinguished from bookkeeping, accounting is primarily concerned with accurate recording of financial transactions involving the transfer of money. On the other hand, accounting is more comprehensive, which includes classification, summarization, presentation and analysis of accounting information. A / C books cover these features in great detail.

Accounting is all about recording, classifying, and analyzing financial transactions. Accounting refers to the art and practice of science known as accounting. Different individuals, such as entrepreneurs, members of management, tax administration and creditors, have made unique demands on the accounting, which led to the creation of different activities. A variety of accounting books is available on every aspect of accounting.

The primary objective of financial A / C involves determining the gain or loss in transactions in a given period of time. When the period ends, the financial position can be said, with the balance sheet. Thus, financial / c books are essential to the functioning of the office buildings.

Another branch of the accounting cost of A / C, which aims to determine the cost price of goods or services produced by the business establishment. Cost / C also allows the business establishment to manage costs, highlighting the potential waste and losses. Cost A / C books give great insight and depth of this branch of accounting.

One of the most important goals of management / c is to provide accurate information for management at the right moment to allow that key decisions and exercise control.

Since all three branches, financial / c is the most important. Objectives relating to the financial A / C is achieved by maintaining records of financial transactions, systematically, based on a series of principles. The fact that there was need to pass the classification, analysis and presentation to determine the financial well-being and business results.

Accounting has a different purpose and plays a key role in the welfare of the organization by providing answers to important questions regarding the accounts. Some of the questions deal with accounting are listed below:

What is the business's financial condition?
Does the business register profits or losses?
What is the performance of the various departments of the establishment?
What products or services have registered a profit?
What service or product should be discontinued?
What goods or services should see an increase in production?
Whether a part should be purchased or manufactured?
Any production costs are excessive or reasonable?
As the business benefited from the existing policy?
What will be the impact of new decisions on the profitability of the business?
Bearing in mind past performance, so that in future it is planned to achieve a desired profit?