As opposed to managerial accounting, financial accounting requires strict compliance with generally accepted accounting principles (GAAP). The reports in financial accounting are primarily for external users but can also be for internal use.
Financial accounting focuses on the application of the accounting principles in treating different situations. In
this section, you will find financial accounting lessons and tutorials that will help you build and solidify your skills in the said field.
What is Financial Accounting; Qualitative Characteristics of Financial Information; Accounting Standards: GAAP, and IFRS; Accounting Principles.
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This post was created by Adeyinka Adeniji on November 28, 2015.