what are the characteristics of financial accounting
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Answer Posted / 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.
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