The students are
expected to carry out a variety of academic tasks that can be class-based, field-based
or home-based. Class-based work or class work is that work which is done in class for students and office in
case of employees. Field-based work or
field work is that which is done on
location. Finally, homework is that work that is done at home
be it done by a student or employee of
any organisation.
First chapter to accounting:
Accounting means
a systematic and a comprehensive and complete recording of the financial
transactions that are a part of any organisation
which also refers to the process of reporting, analysing
and summarization of these transactions.
In other words, the financial statement
that provides the record of cash inflow and cash outflow in large organisations and provides a complete summary
of all the operations that took place in
the organisation in a given period is termed
as the process of accounting. Like
other streams accounting can also be classified and divided under several
fields for a better understanding:
·
Financial accounting: financial accounting is that field of accounting that describes all the financial transactions the cash inflow and cash outflow
in any organisations. The payments investment in resources machinery payment of
salaries all falls under financial accounting.
·
Management
accounting: management accounting which is also known as managerial accounting
is that field where the managers use typically the provision of the information
about accounting in order to have a proper knowledge about it before presenting
an idea and having any discussion before the organisation which adds to aids of
their managerial performance and have a precise and full control over the
functions that they perform for the organisation of management accounting.
Homework help for Ameren Accounting Assignment:
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