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What is the basic purpose of financial accounting ?

What is the basic purpose of financial accounting ?
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What is the basic purpose of financial accounting ?

User Astrophobia
by
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1 Answer

6 votes

Answer:

  • The basic purpose of financial accounting is to allow third parties to assess the value of a company OR
  • to prepare financial reports that provide information about a firm's performance to external parties such as investors, creditors, and tax authorities.
User Mark Kegel
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