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Uses of Financial Accounting

While writing a financial accounting project you need to be knowledgeable about the benefits of those statements. The benefits are listed below:

• Financial accounting helps to create budgets.
• Financial accounting helps companies to generate financial statements or reports.
• With the aid of financial accounting, shareholder and investors get a full knowledge of the financial stability of the corporation.
• It helps companies to purchase goods and services from other

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Misuses of Financial Accounting

There are not only benefits but misuses of those practices as well. Several common mismanagement or abuses about financial accounting are:

• Companies frequently show inflated profit margins to lure shareholders.
• One more malpractice is to hide the expenses.

Some Other Problems faced by Students in making Financial Accounting Assignment are As Follows

• While doing a financial accounting project, students find it hard to balance out assets and liabilities on the balance sheet.
• Students cannot understand how much cash is coming in or going out while applying a cash flow report in financial accounting homework.
• The income statement is although simpler than the other two, can still be difficult when scholars are asked to do higher tax calculations in the financial accounting assignments.

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