Accounts refer to records maintain by a business house with respect to its financial receipts and expenditure. It pertains to a particular year called a financial year. A financial year could be a calendar year or begin from April and end on March. Accounts are about recording in general ledger the collected data regarding transactions entered into by a company. Also, there is a term called ‘On account’ which means ‘not for cash’. By maintaining accounts company comes to know the change in the value of liabilities, assets, and owner’s equity. From the above journals posting is done in ledgers and then ultimately financial statements are maintained. Ledgers could be such as sales ledger, loan account, cash and bank account, asset account, creditors, debtors account, etc. Financial statements consist of a balance sheet, Income statement, and cash flow statement. These financial statements are kept at the registered office of the company after they have been audited. Financial statements are audited by an auditor. They certify the statement by saying that it represents a true and fair view of the state of affairs of the company. Accounts are typically classified into three types i.e. a nominal account, personal account, and real account. Further classification can be done on the basis of periodicity of inflow and outflow of resources.
Accounting is an interesting subject as long as a student is clear with the concept and to have clarity of practical concept, the theory is really important. This is the first mistake that students make; they ignore theory and keep struggling with the practical problems. Instead of planning their work, managing their time they give up on the problems. Accounting questions are lengthy and so is their solutions, one tiny mistake can prove to be a blunder and it’s not easy to find that mistake. It can really test student’s patience to match a balance sheet. Missing on class lectures is another problem that students make. Accounting problems can give a hard time to students even those who are well accustomed to various accounting methods. At times there are so many different formulas are required to be put in one single question and it really makes students scratch their head. No worries because our accounting homework helper providers are here to give you a helping hand. They are happy to help you round the clock i.e. 24/7. They are professionals holding masters and doctoral degree and are masters of their own field. They have years of experience and will solve any of your problem pertaining to accounts within a blink of eyes. In school, you are taught the concept but here we will tell you it’s application apart from solving your homework. You can communicate your tutor anytime to resolve any of your accounting queries. Whether your homework is to be submitted tomorrow or the due date is a week ahead, not an issue for our experts for they will never miss the deadline. Their guidance will make you understand the concept and thereby help you to score more. All you have to do is fill the order form or contact us via e-mail to place your order.