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by Craig Stewart Chief of Marketing & Sales

When one has to write an assignment on finances and accounts, it involves a lot of topics such as processing, measurement, communication of the financial information regarding the economic entities such as a person or any business organization. An assignment on financial accounting can be developed on the various sub- fields such as the cost accounting, auditing, financial accounting as well as task management. These accounting assignment contain a summary of the detailed analysis and assessment of the financial transactions related to an individual or a business. There are a number of students who face difficulty in finding and putting in the relevant material into the assignment writing that they do.

For all such students such websites are available to provide them help with assignment, whether it may be an essay, a general assignment, a dissertation or an assignment related to accounting. In order to write a good assignment in accounts, the student should be well aware of the usefulness of the financial accounting as well as the misuse that can be done with their help. The benefits include the following points:

1. The financial statements and reports of the companies are created using financial accounting: The assignments explain that each statement is related to a certain piece of information. The statement shows the amount of cash that is credited and debited. The final sheet shows the financial health of the company.

2. It helps to create the budget: The assignment on financial budgeting should contain information on the financial health of the company and also predict its future. It can also be understood that the company’s fortune will remain same, increase or diminish.

3. The investors and shareholders can get to know about the company’s health and can decide well on whether they want to invest in the company or not.

4. By keeping a track of the receivable and payable accounts the company can trade with other companies. The assignment should show some of the important functions of the financial management.

When proper financial accounting is done, it helps shareholders as well the company to make proper decisions about their financial future as many of the fraudulent activities are taking place nowadays. Some of the misuses which are related to financial accounting are as follows:

1. Often more than the actual profit margins are showed by the companies in order to bring in more and more share- holders into their company.

2. Hiding the expenses is also considered as a malpractice. In this mode of financing, large expenditures of capital are not mentioned in the balance sheet in order to maintain a low debt/ equity ratio. These kinds of expenses may include the R &D, operating leases, and joint ventures etc. which are not always included in the balance sheets. Many companies do this on purpose in order to make the financial report simpler.

Source: www.assignmentconsultancy.com