Objectives of Accounting are as follows: -
recording of transaction: - i.e. Book-Keeping.
(ii) Ascertainment of
results of above recorded transaction.
(iii) Profit and loss
Accounts are prepared for ascertaining results.
(iv) Ascertainment of financial position of business: - Balance Sheet is
(v) Assisting the management for decision making, exercising control,
budgeting and forecasting.
(vi) Providing information to the users for rational decision making:-
know solvency positions
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