Financial Accounting, in simple terms, is the process or work of keeping financial accounts. In a broader sense, accounting is defined as being the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least of financial character and interpreting the results thereof.
Financial Accounting is so important that it opens doors in every kind of business. However, it is not just confined to business only. Accounting is important to anyone who deals with money. In this way, learning and improving accounting skills is not much less important than it is for professional purpose. At this point, it is appropriate to mention some of the basic accounting skills: They are as follows:
- Understanding about the basic accounting equation
- Being familiar with accounting terms
- Passing Journal entries
- Making Reconciliations
- Problems solving ability
- Financial Reporting
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Written by:
K. A. Fareed (Fareed Siddiqui)
Writer, Trainer, Author, Blogger, Software Developer
BBA, MBA-Finance, MPhil-Financial Management, (MSc-Software Engineering)
(PhD-Management)
MA-English, MPhil-English
Post Graduate Diploma in Computer Applications and Programming
Certificate course in English language proficiency
Level 1 – Leadership and Management ILM – UK
Pursuing CMA-USA
Individual Member of Institute of Management Consultants of India
Writer, Trainer, Author, Blogger, Software Developer
BBA, MBA-Finance, MPhil-Financial Management, (MSc-Software Engineering)
(PhD-Management)
MA-English, MPhil-English
Post Graduate Diploma in Computer Applications and Programming
Certificate course in English language proficiency
Level 1 – Leadership and Management ILM – UK
Pursuing CMA-USA
Individual Member of Institute of Management Consultants of India
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