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<|im_title>Financial Accounting Fundamentals
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Financial accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful for decision-making. It includes a wide range of activities, including recording sales, expenses, assets, and liabilities, as well as calculating financial statements such as income statement and balance sheet. Financial accounting is used by businesses, investors, and other users to make informed decisions about their financial health.
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<|im_title>Financial Accounting Standards
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Financial accounting standards are sets of rules and guidelines that businesses must follow when preparing their financial statements. These standards are developed by the Financial Accounting Standards Board (FASB) and are used by companies of all sizes to ensure that their financial statements are accurate and reliable.
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<|im_title>Financial Statements
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Financial statements are a set of financial documents that a company uses to report its financial performance to investors, creditors, and other users. The three main financial statements are the balance sheet, income statement, and cash flow statement. Each statement provides a different view of the company's financial health and performance.
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<|im_title>Financial Analysis
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Financial analysis is the process of using financial data to make informed decisions. Financial analysts use a variety of tools and techniques to identify trends and patterns in financial data, which they can use to forecast future financial performance.
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<|im_title>Financial Management
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Financial management is the process of setting financial goals, making strategic decisions, and implementing financial plans to achieve those goals. Financial managers use a variety of tools and techniques to monitor and control the company's financial performance, including financial statements, cash flow analysis, and risk management.
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<|im_title>Accounting Software
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Accounting software is a computer program that helps businesses track and manage their financial data. Accounting software can be used to create financial reports, generate financial statements, and perform a variety of other tasks that are involved in financial accounting.
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<|im_title>Financial Reporting
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Financial reporting is the process of preparing and presenting financial statements to investors, creditors, and other users. Financial reports provide information about a company's financial performance, financial position, and cash flows. Financial reporting is used to make informed decisions about the company's future.
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<|im_title>Internal Controls
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Internal controls are a set of policies and procedures that a company implements to help prevent errors and fraud. Internal controls can include measures such as segregation of duties, physical controls, and monitoring.
The assessment is done via submission of assignment. There are no written exams.