Accounting Homework Help
Accounts refer to records made and maintained by small and big enterprises. They need to keep a record of their earnings and expenses. It has to be done not only for them but also because they are accountable to other people as well. For instance, they need to show the accounts to those who have invested in the company, to those who have provided with funds to start the business and keep it going. There are internal users as well and they consist of managers, employees, etc. Accounts are maintained by companies with respect to a particular year known as a financial year in terms of accounting. Even government is also a user of such accounts; they need it to check if the company is complying with the statutory requirements. Usually, every company is required to maintain accounts. However, the users get to see audited accounts. A company maintains the financial statements and gets it audited. As per government few companies, those who fulfill a prescribed criteria, need to maintain their records the way the government tells them to whereas other companies can do it the way they want to. They can maintain records in a physical or electronic form. Accountants are responsible for maintenance of the accounts. The account is a lengthy and difficult subject. Moreover, it becomes more of a troublesome if students despise the subject. At times students give question hours and yet they fail to find the solution. The biggest mistake students make is that they do not try to concentrate on theoretical part. They do not try to understand the concept and straightway jump on the practical question. The lack of interest in the subject doesn’t let them plan the work in advance. They leave it for the last minute not realizing that it is only them who will lose marks due to this.
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