Part-5 Financial Accounting Assignment Help Online
Writing financial accounting assignment involves the measurement, processing and communication of financial information about economic entities i.e. any business organization or a person. You can develop financial accounting assignment on the several sub-fields of financial accounting including financial accounting, cost accounting, auditing and tax management. Financial accounting assignment concerns the summary, assessment and analysis of financial transactions pertaining to a business or an individual. Most of the students counter difficulties to implement relevant material in financial accounting assignment writing, our financial accounting assignment help is here to assist you with your financial accounting assignments.
What is financial accounting?
If you are writing financial accounting assignment, it should involve the summary, assessment and analysis of the financial transactions of a company of your choice. The primary objective of financial accounting assignment writing is to make the students well-versed with financial statement or a financial report. Financial accounting mainly is a written statement presented either quarterly or annually to the company’s shareholders and general public which includes at least three important financial accounting statements namely statement of income, statement of cash flow and balance sheet. You need to keep these above things in mind while writing a financial accounting assignment or you can take financial accounting assignment help from our finance assignment help experts. Financial report is used for a variety of purposes which are discussed below.
Uses of financial accounting
If you intend to write a financial accounting assignment, you need to be well-versed with the practices and misuses of those practices as well. The benefits may be described under the following heads:
- Financial accounting helps companies to create financial statements or reports. Our financial accounting assignment experts explain, each type of statement furnishes on a particular type of information. Our financial accounting assignment experts also mention statement of cash flow shows the amount of capital coming in and going out. Finally balance sheet gives a complete picture of the financial health of a company at any given point of time. Your financial accounting assignment should follow the same theory.
- Financial accounting helps to create a budget. Financial budgeting can be a good topic for financial accounting assignment. Your financial accounting assignment on financial budgeting should carry information of the financial health of the company and also predict the financial future of the company. At the end of the research work of the financial accounting assignment, you will understand the company whether the financial fortune of the company will remain the same or increase or decrease.
- Financial accounting helps companies to purchase goods and services from other businesses by keeping track of the accounts payable and account receivable. Your financial accounting assignment should also reflect the important functions of financial management.
- Shareholders and investors get a complete sense of the financial health of the company, so that they can make an informed choice whether to invest in the shares of that company or not. You can easily take financial accounting assignment help on any subject of financial accounting.
Misuses of financial accounting
But just as proper financial accounting helps companies and shareholders alike to make decisions about their financial future, fraudulent financial claims by companies are rampant. Some of the common malpractices regarding financial accounting are explained by our financial accounting assignment help experts,
- Companies often show inflated profit margins to lure the share holders.
- Another malpractice is to hide expenses. If you are writing a financial accounting assignment on such method, which means a mode of financing in which large capital expenditures are kept off the balance sheet in order to keep the debt/equity ratio low. In contrast to expenses like loans, equity and debts which appear on balance sheets, there are other forms of expense like R&D, joint ventures, operating leases etc. which do not come up on balance sheets. While many companies keep them away from the financial reports in order to keep them simple, others do it on purpose. The Enron scandal is one of the most high profile accounting scandals of the world. If you need more detailed knowledge on such scandals, take financial accounting assignment help from finance assignment help experts.
Three key areas of financial accounting
Financial accounting deals with three chief accounting areas. They are:
- Income and expenses of the company
- Changes in the cash flow or owners’ equity and
- Overall financial health of the company.
Three specific statements deal with these three areas. They are:
- Income Statement
A statement that measures the financial performance of a company over a specific period of time is called the income statement or the profit and loss statement. Our financial accounting assignment help make sure you counter no problems with financial statements.
You can write financial accounting assignment on two types of financial incomes:
- Operating income: Our financial accounting assignment explains this part deals investors and shareholders are extremely interested in this portion of the statement since it reveals information about the regular business operations of the company.
- Non-operating income: You can acquire more knowledge on the non-operating income from our financial accounting assignment help It explains the revenue and expenses that are not related to the direct operations of the company are called non-operating income of the company.
Income Statement of ABC Sporting Corp. (figures are in dollars)
|Cost of Sales||39,600|
|Gen. /Admin. Expenses||5,200|
|After Tax Profit||4,000|
In the above income statement, net sales of the company represent the operational income. This amount is same as the gross profit. However the actual profit of the company is the profit after taxes. Similarly, cost of sales represents the operational expenses of the company. The income and expenses incurred under the heading ‘others’ represent the non-operational income. You can clear your doubts with financial accounting assignment help.
- Cash Flow Statement
Our financial accounting assignment help experts define that Cash Flow Statement provides the aggregate data on the inflow of cash from the operational activities of the company as well on the entire cash outflow towards all the operations and investments.
Our financial accounting assignment help experts state the limitations of the income statement that it fails to show the changes in the cash position. For instance ABC Sporting Corp. can get a huge contract of 100,000 dollars. However, the actual income cannot be shown until at a later date. As such cash flow statement is required to show the changes in the equity in financial accounting assignment writing. For example, ABC Sporting Corp. has the following cash flow for the period of January to March, 2014.
|Cash flow from operations||4000 dollars|
|Cash flow from investing||-1000 dollars|
|Cash flow from financing||– 2000 dollars|
|Net cash flow||1000 dollars|
- Balance sheet
The financial statement that summarizes the company’s assets, liabilities and shareholder’s equity at a specific point of time is known as a balance sheet. You can take expert financial accounting assignment help from our financial accounting assignment help experts explain the balance sheet by the following formula:
Assets = Liabilities + Shareholder’s Equity
Our financial accounting assignment experts explain how balance sheet works. A balance sheet is a statement where two sides balance out. A company has to pay for certain things like interest on loans, rents (liabilities) to own certain things like capital, land etc (assets). It can also do so either by borrowing or getting it from shareholders (shareholder’s equity).
Here is a simple example of ABC Sporting Corp. balance sheet explained by the financial accounting assignment experts for the financial year March 2013 to March 2013.
|Net Expense :|
Accounts payable $20,000
|ABC’s ending balance:|
|Land owned $5000|
|Total Assets $47,500|
|Total Liabilities $20,000||Owner’s Equity $27,500|
|Total Assets = $47,500|
Total liabilities + Owner’s Equity = $47,500
Why do students need help in writing finance accounting assignments?
We know how tricky financial accounting assignment writing can be. Students are often perplexed when they are confronted with some tricky financial information of a company and are asked to write its financial statement.
Some of the leading areas of problems while writing financial accounting assignment are the following:
- In balance sheets, students find it difficult to balance out assets and liabilities while writing a financial accounting assignment.
- While implementing cash flow statements in financial accounting assignment, students often cannot figure out how much cash is coming in or going out
- Income statements although easier than other two can still be tricky when students are asked to do advanced tax calculations in financial accounting assignments.
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