How is finance related to other functional areas in a business organization (marketing, production, accounting, etc.)?

Q: advantages of financial accounting

A: Answer are as follows

Q: How do you find gross profit in financial accounting?

A: Gross profit is the income earned by the company after deducting the cost of goods sold from the…

Q: How can a Finance, as a function within the company, influence the process of business strategy…

A: Finance in business refers to the management of funds and financial resources to achieve the…

Q: What is financial accounting process

A:

Q: What makes accounting characteristics important?

A: The practise of recording a business's financial transactions is known as accounting. As part of the…

Q: Describe the conceptual framework of financial accounting.

A: Conceptual Framework: A conceptual framework is a logical presentation of interrelated objectives…

Q: What constraints are there within financial and managerial accounting reporting?

A: Managerial accounting:   Managerial accounting is more focused towards analyzing information and…

Q: What is finance?  How does it relate to accounting?   What is the objective(s) of the financial…

A: Time value of money Time value of money The main concept of finance is related to the time value of…

Q: How is financial accounting different frommanagement accounting?

A: The financial accounting and the management accounting are used for taking decisions for the…

Q: How investment decisions and financing decisions are vital functions of business activities

A: Business activities refer to the activities that are performed with a purpose to generate revenue.…

Q: What is the purpose of accounting in an organization?

A: Income Statement: The income statement helps an organisation understand the amounts of revenues…

Q: What is the distinction between accounting and business administration?

A: Here is the Answer

Q: how is financial management related to economics on the one hand and accounting on the other hand.

A: Financial Management: It refers to the planning, directing, organizing & controlling the…

Q: What is the significance of Financial Management? What are the advantages and disadvantages of…

A: Financial management: It is the process of organizing, collecting, managing, and distributing funds…

Q: Describe the difference between financial accounting and managerial accounting, highlighting their…

A: Financial Accounting: Financial accounting is a branch of accounting that focuses on the recording,…

Q: What is a conceptual framework? Why is a conceptual framework necessary in financial accounting?

A: Conceptual Framework: A conceptual framework is a logical presentation of interrelated objectives…

Q: Is there a distinction between management and financial accounting?

A: Accounting refers to a process through which all day-to-day activities or transactions occurred or…

Q: What is finance? Explain how this field affects all of the activities in which businesses engage

A: Finance It is defined as a field of business studies that generally deals with the management of…

Q: Which is one of the most important roles of the accounting function within an organization?

A: Accounting Function: Accounting function are the functions related to maintenance of records of the…

Q: 4. How the following two constraints related to financial accounting theory affecting organization?…

A: Financial reporting means releasing the financial reports of the company to its shareholders and in…

Q: What is the distinction between the accounting and finance functions? What function do they perform…

A: Answer: The difference between accounting and finance function is that accounting mainly focus on…

Q: what are some general management accounting issues?

A: Accounting is the language of business. It the art of recording the business transactions and…