BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The history of financial accounting is more than just a story of money and numbers. It is the story of the world’s evolution from bartering and local trade to a true global economy. So much history’s written records are in the form of accounting documents.

Detailed explanation-2: -Investors. Before investing in a company, investors often seek financial reports prepared using financial accounting guidance to understand how the company has been doing and to set expectations about the future of the company. Auditors. Companies may be required to present their financial position to auditors.

Detailed explanation-3: -Financial accounting is based on historical data. This information provides a guide for interpreting current conditions and future trends. Nevertheless, historical data is imperfect because it does not include non-financial aspects that can impact a company’s performance.

Detailed explanation-4: -The focus of financial accounting is on summarizing and reporting a business’s financial position to entities outside the business with a vested interest, such as stockholders, creditors, government agencies and suppliers.