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What is Financial Accounting?

✅ SUBSCRIBE to our channel https://www.youtube.com/theaccounting... ➡️ LEARN accounting with us today https://www.theaccountingstudent.co.uk WHAT IS FINANCIAL ACCOUNTING? Financial accounting is the gathering of past financial information of a business and this is then summarised into the financial statements. These financial statements are normally released to the public and because of this there are standards that must be met. The accounting bodies and regulators issue the standards but this will depend on where the business is located and operates. The purpose of the standards is to encourage the financial statements of a business to be objective. Therefore the statements should give a true and fair view of the business that is supported by evidence. This video will help you with questions such as what is financial accounting, what is financial accounting in english, what is financial accounting and reporting, what is financial accounting theory, what is financial accounting definition, what is financial accounting explain, what is financial accounting explainer, what is financial accounting basic, what is financial accounts, what is financial accountancy. DISCLAIMER Our content is to be used as an EDUCATIONAL TOOL that aims to provide a foundation for individuals to learn financial accounting, management accounting and bookkeeping topics as practiced in the United Kingdom. As a result, not all complexities are shown or provided. Examples may include but are not limited to; differences between financial reporting, accounting standards or tax treatments. We are NOT ENGAGED in the providing of accounting, bookkeeping, financial, investment, tax, or other professional services. You should consult with a qualified or professional such as an accountant, business advisor, investment specialist, lawyer, solicitor, etc., with regards to specific facts and situations. Copyright © 2024 The Accounting Student #introductiontoaccounting #accountingbasics #financialaccounting