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<|im_title>Financial Accounting and Reporting
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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 the preparation of financial statements, such as the income statement, balance sheet, and cash flow statement.
Financial reporting is the process of communicating financial information to investors, creditors, and other interested parties. It includes the preparation of financial reports, such as the annual report and quarterly reports.
<|im_title>Accounting Cycle
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The accounting cycle is a series of steps that financial accountants follow to record and summarize financial transactions. The accounting cycle begins with the recording of cash and cash equivalents, then moves on to the recording of sales, purchases, and expenses. Finally, the accounting cycle ends with the preparation of financial statements.
<|im_title>Financial Statements
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Financial statements are a set of financial reports that provide information about a company's financial performance and position. The three main financial statements are the income statement, balance sheet, and cash flow statement.
<|im_title>Financial Analysis
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Financial analysis is the process of using financial data to make decisions. Financial analysts use financial statements and other data sources to identify trends and patterns in a company's financial performance. This information can be used to make informed investment decisions, evaluate the financial health of a company, and identify areas for improvement.
<|im_title>Accounting Standards
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Accounting standards are the rules and guidelines that financial accountants must follow when preparing financial statements. Accounting standards are set by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB).
<|im_title>Internal Controls
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Internal controls are a system of procedures that financial accountants use to ensure the accuracy and completeness of financial records and financial reporting. Internal controls include policies, procedures, and monitoring activities that are designed to prevent errors and fraud.
<|im_title>Financial Management
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Financial management is the process of planning, directing, and controlling a company's financial resources. Financial managers use financial statements and other data sources to make informed decisions about how to allocate resources and achieve financial goals.
<|im_title>Financial Planning
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Financial planning is the process of developing a plan for a company's future financial performance. Financial planners use financial statements and other data sources to identify trends and patterns in a company's financial performance. This information can be used to make informed investment decisions, evaluate the financial health of a company, and identify areas for improvement.
<|im_title>Financial Analysis
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Financial analysis is the process of using financial data to make decisions. Financial analysts use financial statements and other data sources to identify trends and patterns in a company's financial performance. This information can be used to make informed investment decisions, evaluate the financial health of a company, and identify areas for improvement.
The assessment is done via submission of assignment. There are no written exams.