ACC203 Introduction to Financial Accounting Explained !

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Imagine you hear “financial accounting”. What is that first thing which comes into your mind? Is it the financial statistics or the accounting balance sheets? Whatever it is, we are sure you have already imagined yourself in the role of an efficient financial accounting manager, haven’t you? But first, you would need to be familiar with many aspects such as –

• Nature and scope of accounting,
• Basic accounting concepts,
• Source documents,
• Double entry book-keeping systems,

and what not! This is what the accounting assignment help experts at Sample Assignment are for! We guide you through a diverse number of basic principles of accounting and help you understand the procedures of posting financial documents into the accounting record.  

Aspects of ACC203 Introduction to Financial Accounting

Basically, students in ACC203 are taught about the ways to practically deal with accounting transactions which the banks conduct and to find and rectify the errors, if any. The course is as vast as a humongous desert that stretches up to where eyes can possibly see! However, in a crux, the course revolves around the following aspects: Nature and scope of accounting Various functions which an accountant has in any organisation Accounting function Relation of the accounting function with various ways by which organisations exchange information Different users as wells as uses of accounting information Several chief accountings concept and conventions Source documents Subsidiary books Various double entry book-keeping systems Trial balance Rectifying errors Capital and other revenue expenditures Sole trader and his final accounts Control accounts Reconciliations by various banks

How Our Accounting Assignment Help Experts Aid Students?

So, after this exhaustive list of the aspects of this course, you might have got a decent idea about the enormous amount of hard work and time which doing these assignments would require. Realising this, our robust team of experts are always available to guide you on any aspect related to this course. Also, the online quiz related which you would be required to complete can be easily completed when you make use of our help with online quizzes/exams feature. Enclosed below is an ACC203 assignment sample which our accounting and finance assignment help experts had done for students. Referring to these samples have contributed to shaping the bright futures of many students. Basically, there are certain things which need extra attention when you introduce Financial Accounting assessments. So, have a look at how our experts approach these kinds of assignments. So, as the name suggests, FINANCIAL ACCOUNTING is a combination of both finance and accounting. Thus, while doing this sample, our ACC203 assignment help experts keep in mind both these aspects. This is how our experts approach such assignments. In the above sample, our experts make use of financial calculations and formulas and found out the total cost per bottle for Cool bay Draught. Also, the second question is done keeping in mind some financial statements. They make sure to incorporate these financial statements into the assignments -

Financial Statements

Financial accounting generates these following general-purpose statements.  

Income statement

This financial statement reports how much profit a certain institution has made within a specified period of time. The key components of the income statement are:

• Revenues
• Expenses
• Gains
• Losses

Balance sheet

Balance sheet talks about the various assets which the company possesses, including cash, accounts, equipment, various items in the inventory, insurances and many other such things. Also, it talks about the company’s liabilities, that is the things which are payable by them. This generally includes wages payable, interest payable etc. In addition to these, the balance sheet also talks about the amount of the difference between liabilities and assets, which is known as stockholder’s equity. So, the balance sheet is divided into three components,

• Assets
• Liabilities
• Stockholder’s Equity

Cash Flows

The statement of cash flows basically elaborates the change in the flow of cash in a particular organisation. This change can be divided into three parts:

• Operating activities
• Investing activities
• Financing activities

Statement of Stockholder’s Equity

This statement is the depiction of the change in stockholders’ equity within the same period of time as the income and cash flow statement. This includes net income, dividends, repurchase of common stock and other such things. We are a steadfast team of assignment help experts functioning for the benefit of students. Having provided guidance to more than 10000 students, we have seen dreams becoming reality for them. This was just a small gist of a vast course like ACC203 Introduction to Financial Accounting. However, the experts at Sample Assignment are all geared up to provide you with a detailed discussion about the course. So, what are you waiting for? Consult us, and clarify all your doubts regarding this topic. The supports our academic writers provide to you: