Financial Accounting is a field of accounting concerned with ........

Costing - Phase (I & II) Overview of Cost and Management Accounting

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Financial Accounting is a field of accounting concerned with:

Recording of Business Transactions

Classification of Business Transactions

Summarizing Business Transaction

Analysis and Reporting financial results

All of the above

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Explanation:

Financial Accounting is systematic recoding, classifying and summarizing all monetary transaction relating to business and interpretation thereof so as to determine Profit or Loss of business entity and facilitate rational decision making. It is “language of business”. Accounting is a means through which information about a business entity is communicated. It is an art and science.