Financial Accounting Service
Financial accounting, also known as financial accountancy is a type of accountancy dealing with the preparation and analysis of financial statements for major stakeholders of a company, including stockholders, suppliers, creditors, banks, government agencies, owners, etc.
Financial reports are made by qualified chartered accountants after carefully studying the financial statements of a company. These reports are made, based on Generally Accepted Accounting Principles of a respective country.
Financial accounting is important for reducing the principal-agent problem by measuring and analyzing the company's financial performance and reporting it to the interested parties.
This service is useful for preparing financial information for stakeholders / people who are not the part of the daily operation and management team. This branch of accountancy is governed by international and local accounting standards.
It involves collecting, recording and extracting financial information of a company, summarizing it in the form of a profit and loss account, cash flow statement and a balance sheet. Stakeholders can know the financial standing or the soundness of a company merely by going through these financial statements.
The service also includes online consultancy for clients and implementation of proper accounting systems.