What Is Financial Accounting?
By books: 1. Modern Financial Accounting by G.A. Lee Provision of information for planning and decision - making to management by analysis of data about past transaction and events and projection of future economic events on the basis of them. 2. Accounting and Finance by Michael Jones Evaluate the potential viability of future investment appraisal. The main capital investment appraisal techniques are payback period, accounting rate of return, net present value, profitability index and internal rate of return. By websites: 1. https://www.investopedia.com/terms/f/financialaccounting.asp Financial accounting is the process of recording, summarizing and reporting the myriad of transaction resulting from business operations over a period of time. These transactions are summarized in the preparation of financial statements including the balance sheet, income statement and cash flow statement that record the company’s operating performance over a specified perio...