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Financial accounting Questions
What are the basic fundamental equations in financial accounting?
Which method of accounting is more commonly used by external stakeholders?
Then, which method of accounting is primarily for internal decision-making? Financial Accounting or Managerial Accounting?
Briefly define and/or discuss the terms listed below. Use your own words. Use the background material, but it is also acceptable to use the library or other Internet resources. Explain why these concepts are important for financial accounting.
-Generally Accepted Accounting Principles (US GAAP);
-Financial Accounting Standards Board (FASB);
-Securities and Exchange Commission (SEC);
-Certified Public Accountant (CPA)