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All the areas that accountancy focuses
Conveys profits and losses: Accounting is a discipline that assesses an organization’s profit and loss. This also aids in the management’s analysis of the net earned profits and losses sustained during the year.
Law and Income Tax: Accounting aids a company in making additional tax payments to the government that it may be due. The documented book of accounts is used to accomplish this. It may also be used as evidence in court.
Represents the Financial Situation: According to our accounting assignment help services, creating a balance sheet towards the end of every year aids businessmen in understanding the financial standing of an organization. Even so, it emphasizes the importance of the company’s liabilities and assets.
Comparative Study: It enables business people to maintain an organized record that will further enable businesses to compare the efficacy of the present year with those of past years.
Tax accounting: This branch of accounting is concerned with filing an organization’s tax return to government requirements.