Answer / gurpreet singh

1. Recording of transactions concerning & affecting the
business.
2. Preparation of neccesary accounts & balancesheet as
required by statutes: &
3. Apprising the owners of the business about the results
of the business over a period of time.

Answer / aman

characterstics of financial a/cin are-
1- to know the financial position of the copmany.
2- transaction recorded in cronological order.

Answer / abhijit mandal

The art of recording, classifying and summarising in a
significant manner and in terms of money, transactions and
events which are atleast in part of a financial charecter
and interpreting the result.

Answer / arpana

Characteristic features of financial accounting:-
*It consists those transactions which can be expressed in
terms of money.
*Its a hystorical form of accounting as it concerned with
recording of tranjectionsi.e. financial statement.
*In perticulal case,its a legal requirement.
*This accounting meant for people who are external to the
company.
*Its a intrim report and can't be a final ones.
*This process of accounting gets largely affected due to
the various accounting policies followed by the accountants.

Answer / sammy

transaction made monetary form

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