Discy Latest Questions

  1. Various Streams Of Accounting Financial Accounting: Financial Accounting is the process of recording,  summarising, analyzing, and providing financial information to users. In financial accounting, we prepare a trading account, profit & loss account, and balance sheet. Cost Accounting: Cost accoRead more

    Various Streams Of Accounting

    1. Financial Accounting: Financial Accounting is the process of recording,  summarising, analyzing, and providing financial information to users. In financial accounting, we prepare a trading account, profit & loss account, and balance sheet.
    2. Cost Accounting: Cost accounting recording of all the costs incurred in business. Provide data to managers to reduce the cost by cost control.
    3. Management Accounting: Management Accounting is the process of analysis, interpretation, and presentation of accounting information to the users that collected with the help of financial accounting and cost accounting. This helps management in decision making.
    4. Inflation Accounting: Inflation accounting is used to calculate the values of the firm at current prices. In Financial Account and Cost Accounting, we consider historical value but in the Inflation Account, we consider the current value. Financial statements are adjusted as per price indexes to paint a clearer picture of a firm’s.
    5. Human Resource Accounting: Human resource accounting is the process of identifying and reporting investments made in the human resources of an organization.
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