Financial Accounting
**Financial Accounting**
What is Financial Accounting?
Financial accounting is the process of recording, summarizing, and reporting a company's financial transactions through financial statements. These statements, including the balance sheet, income statement, and cash flow statement, provide a standardized way to present a company's financial performance and position to external stakeholders such as investors, creditors, and regulators. It is commonly used by companies to track profitability, assess financial health, comply with reporting requirements, and make informed business decisions.
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