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difference between accounting and financial accounting if it
is same or not if not what is the difference ?
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Answer Posted / wasim khan
accounting is a wider term and encompasses all accounting
techniques and methods applied in a business system.
accounting can be financial, cost or management accounting.
while financial accounting is a narrow concept pertaining
only to a accounting system dealing with financial
transactions and elements of finance.
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AN ESTIMATE OF ASSETS AND LIABILITIES ON AGIVEN DATE
The following Trial Balance was extracted from the books of Chetan.Do you think that it is correct? If not,rewrite it in the correct form. Debits Rs Credits Rs ------------------------------------------------------------ Stock |8250 | Capital |10000 Purchases |12750 | Sales |15900 Returns outward |700 |Returns inwards |1590 Discount received|800 |Discount allowed |800 Wages & salaries |2500 |Scooty |1750 Rent and rates |1850 |Carriage charges |700 Sundry debtors |7600 |Sundry Creditors |7250 Bank Overdraft |2450 |Bills payable |690
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