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Its the company stock to proceed its operations if its manufacturing or retail and classi
Either it is a Commercial organisation or a Not for Profit Organisation, depending upon the nature of its activities, it primarily requires the following key information from time to time.
1) Income or Expense - ( In Case of Not for Profit entities) for the reporting period
2) Profit or Loss - (In Case of commericial entities) for the reporting period
3) The Financial Position of the Enterprise as on a given date
Since the Finance & Accounting Department records all the transactions in a systematic manner applying the principle of Accounting side by side controlling the Cash flows and fund flows from time to time, which is very essential for managerial decision makiing, it plays an essential part in the success of the organisation.
