Order Assignments Now Get Upto 50% Off Get UPTO 50% OFF on Your 1st Assignment. Redeem Code: BFCM Order Now
Search
Listening..

Application of Financial Accounting - Aridri Limited

University: UK College of Business and Computing

  • Unit No: 12
  • Level: Undergraduate/College
  • Pages: 3 / Words 669
  • Paper Type: Assignment
  • Course Code: L/508/2389 Applicati
  • Downloads: 719
Question :

Financial accounting involve recording, analysing and reporting of transactional data of Airdri Limited. Application of financial accounting tools like Balance sheet, cash flow and income statement assure effective management of financial data.

  • Present business transactions with the use of double entry book keeping.
  • Preparation of final accounts according to proper standards and principles.
  • Underline bank reconciliation to assure bank records accuracy.
  • Accommodate shift recorded transactions and control accounts from suspense accounts.    
Answer :
Organization Selected : Aridri Limited

INTRODUCTION

Financial accounting is the field of bookkeeping worried about the deprived, examination and announcing of monetary exchanges relating to a business (Arvidsson, 2011). All enterprises need to plan fiscal reports for a particular timeframe and money related reports have present before partners. It is useful for the association to take viable choices seeing speculation just as extension. Fiscal reports demonstrates the money related position of the company. To more readily comprehend this idea Airdri Limited has been chosen which bargains in electronic segments and it has a place with United Kingdom. In this report, there are following subjects are secured, for example, budgetary bookkeeping and its motivations, examination of inward and outside partners, trail balance , asset report, last records for sole dealers, bookkeeping ideas identified with consistency and prudency. Aside from this it also talk about reasons for getting ready bank compromise articulations and deals and buy control record.

FINANCIAL ACCOUNTING

Financial accounting is a part of accounting which helps in tracking the financial transactions of any organisation for operating and managing its operations in a systematic manner. It helps in recording, summarizing and presenting all the transactions to prepare the financial statements. The purpose of preparing such statement is to provide information related to the operations, performance and cash flows to the managers for taking effective decisions (Edwards and et. al., 2013). All the organisations are required to maintain their financial transactions in effective manner so that information be able to usable for stakeholders and owners. This report includes book keeping system, ledger posting system and the reconciliation statements. Accounting rules, principles, consistency and importance of financial accounts are also defined in this context.

a. BUSINESS REPORT

1. Financial Accounting: Financial accounting is a process recording financial transactions to provide information related to financial performance and position of the organization. All the financial statements are prepared by considering the local as well as international standards prescribed. Such accounting helps in collecting and summarizing financial data for the preparation of statements, such as, income statement, cash flow statement and financial position statements. All such statements are described below:

Income Statement: Income statements also known as profit & loss statements are prepared to show the profits and losses of an organization over a period. Such statements are used to display the organizational revenues, selling and administrative expenses, incomes and expenses, costs, taxes paid, gross profit, net profit in a systematic and logical manner. With the help of such statements owners, directors and stakeholders are able to determine the profitability of the organisation.

Cash flow statement: Cash flow statements are those statements includes transactions related to the inflows and outflows of an organization during an accounting period. Such statements provides important information related to the cash requirements and needs for execution of the functions and operations of business in smooth manner. It reflects the liquidity position of any organisation.

Financial position statement: Financial position statements are the written records which conveys the activities and financial performance of any organization. These statements are inspected by the government agencies, accountants to ensure accuracy in the operation.

You may also like this: 

Download Full Sample
Cite This Work To export references to this Sample, select the desired referencing style below:
Global Assignment Help.(2023) Application of Financial Accounting - Aridri Limited Retrieved from: https://www.globalassignmenthelp.com/free-samples/finance-assignment-help/l5082389-application-of-financial-accounting-aridri-limited
Copy to Clipboard
Copy to Clipboard
Global Assignment Help (2023) Application of Financial Accounting - Aridri Limited[Online]. Retrieved from: https://www.globalassignmenthelp.com/free-samples/finance-assignment-help/l5082389-application-of-financial-accounting-aridri-limited
Copy to Clipboard
Global Assignment Help Application of Financial Accounting - Aridri Limited. (Global Assignment Help, 2023) https://www.globalassignmenthelp.com/free-samples/finance-assignment-help/l5082389-application-of-financial-accounting-aridri-limited
Copy to Clipboard
Global Assignment Help Application of Financial Accounting - Aridri Limited. [Internet]. Global Assignment Help.(2023), Retrieved from: https://www.globalassignmenthelp.com/free-samples/finance-assignment-help/l5082389-application-of-financial-accounting-aridri-limited
Copy to Clipboard
Often times, students feel unable to work on assignments and think, “Who will do my assignment?” By providing "Sample" on various subjects, we are trying to help them understand all the intricacies of writing. We have the most qualified and skilled assignment writers who can provide the best assignment writing services, essay writing services, dissertation writing services, and more at the most affordable rates. Place your order now for surprising discounts.
Boost Grades & Leave Stress

Share Your Requirements Now for Customized Solutions.

Lowest Price
USD 7.13

Delivered on-time or your money back

100+ Qualified Writers

For Best Finance Assignment Help

  • expert name
    413 - Completed Orders
    Dr. Patrick Rey View Profile Ph.D in Algorithms & Data Structures(IT) UK Hire Me
  • expert name
    231 - Completed Orders
    Ronald Daniel View Profile Master's in International Tourism UK Hire Me
  • expert name
    445 - Completed Orders
    Mathew James View Profile Ph.D in Chemistry Canada Hire Me
  • expert name
    2354 - Completed Orders
    Stephanie Lawson View Profile Ph.D. in Relationship Management USA Hire Me
View All Writers
FREE Tools

To Make Your Work Original

  • tools Paraphrasing Tool

    Easy to Use Paraphrasing Tool to Simplify Complex Academic Writing

    Check Paraphrasing
  • tools Plagiarism Checker

    Check your work against plagiarism & get a free Plagiarism report!

    Check Plagiarism
  • tools Reference Generator

    Get citations & references in your document in the desired style!

    Generate References
  • tools Grammar Checker Tool

    Make your content free of errors in just a few clicks for free!

    Grammar Checker
  • tools Essay Typer

    Generate plagiarism-free essays as per your topic's requirement!

    Essay Typer
  • Dissertation Outline Generator

    Get Structured Outline by Professionals for Your Dissertation

    Check Dissertation
  • Thesis Statement Generator

    Create the perfect thesis statement in just few minutes!

    Generate Thesis
GAH whatsapp