The Advantages of Accounting

Upclass - Investing & Finance Coaching
A free video tutorial from Upclass - Investing & Finance Coaching
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3.6 instructor rating • 5 courses • 14,661 students

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Accounting for Beginners: Learn The Basics of Accounting

Learn vital accounting concepts, and accounting standards & skills. Learn financial accounting & managerial accounting.

31:27 of on-demand video • Updated January 2019

  • Understand what is accounting
  • Understand the meaning of accounting
  • Understand the objectives of accounting
  • Learn the basic functions of accounting
  • Learn what are financial statements
  • Learn the most important accounting concepts
  • Learn the basic accounting principles and standards
English [Auto] Advantages of accounting the following are the advantages of accounting to a business. It helps in having a complete record of business transactions it assist the comparative study of current year profit service and expenses with those of the previous years. It supplies useful information to judging the management's ability to utilize enterprise resources effectively in achieving primary enterprise goals limitations of accounting. Apart from the advantages accounting also has some limitations. Some of the important limitations of accounting are as follows. It focuses only on financial transactions or events while ignoring the non-monetary items it can lead to wrong conclusions. If the assumptions of accounting data are inaccurate.