FINANCIAL ACCOUNTING PRESENTATION

Presentation

Financial accounting

CHRISTIAN JOSHUA REYES

1 Introduction

2 Key Objectives

3 Basic Principles

table of contents

4 Components of Financial Statements

5 Importance of Financial Statements

6 Financial Accounting Standards

7 Conclusion

FInancial accounting

Financial accounting is a branch of accounting that focuses on the preparation and presentation of financial statements

"Providing useful financial information"

Key Objectives of Financial Accounting

"Facilitating decision-making"

"Ensuring accountability and transparency"

Accrual basis

+ Inf o

Basic Principles of Financial Accounting

Going concern

+ Info

Consistency

+ Info

Components of Financial Statements

Balance Sheet

Income Statement

Cash Flow Statement

Assessing financial health

Facilitating investment decisions

Supporting credit decisions

Importance of Financial Statements

Financial Accounting Standards

Generally Accepted Accounting Principles (GAAP): A set of accounting standards and guidelines that companies in the United States must follow when preparing financial statements.

International Financial Reporting Standards (IFRS): A global set of accounting standards used in many countries to ensure consistency and comparability of financial statements.

Conclusion

Financial accounting plays a crucial role in providing financial information to stakeholders and facilitating decision-making. It ensures transparency, accountability, and comparability in financial reporting. By adhering to accounting standards and principles, companies can present accurate and reliable financial statements.

Thank you!