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More item indicates the fact Accounting and Financeis the item debtors and creditors which is the basis of ancient and modern accounting, taking refuge in the an cienthumanst obarterany exchange of goodsto other commodities systemand after Islamcame andlay the ground work for accountability indirecting it to the debtin writing or debtors and creditors the ncame scholars and expertsput the standards and principles of this foundations and begun developingthese standardsto show
Majority of Principles, Standards, Practices, concepts and procedures are Universally applicable. All economic activities are taking shape through Accounting. All commercial and non commercial activities are keeping alive with Finance as its life blood.
The basic principle of accounting or Book Keeping is to Record the transactions and documentation of details for future tracking. In modern times, it has become the backbone of the business with several tools and crucial ratios to determine the financial analysis of any business organisation. All major economic, financial and budgetary decisions are based on the Financial statistics and performance of the country.
Fully agree with mr fadil hoory answer
thank you
Double entry system of accounting itself has been a great invention. It ensures correctness and accuracy in the entries and helps present the working results and financial position in the most scientific way. All the stakeholders absolutely rely on this organized manner of recording and reporting the business transactions. The comprehensive statement of income and the balance sheet sum up a huge wealth of information and if presented properly speak a lot about the health of the company.
Finance discipline has also evolved into the modern day organized form of applying principles in preparation of the financials and interpreting the results, arranging the most appropriate mix of financing at least cost and helping the business add value to the wealth of owners. Finance also ensures that there is adequate supply of liquid resources to keep the business going on smoothly. Finance discipline also encompasses risk management and helps looking ahead into the future in a birds eye view and advising the owners of potential risks and opportunities lying the way ahead.
Isn't it all mind-blowing !
I agree with all the answers
it really shows on a quantity scale how the business has performed and if considered with economic and market and other conditions it can also tell abut future prospecst
................................. agree with answers
agree with Mr Fadil >>>>>>>>>>>>>>>>>>>>>>>>
Thank you for the invitation ... I agree with the answer Mr. Fadel
