Financial accountancy (or financial accounting) is the branch of accountancy concerned with the preparation of financial statements for external decision makers, such as stockholders, suppliers, banks and government agencies. The fundamental need for financial accounting is to reduce principal-agent problem by measuring and monitoring agents' performance.
The accounting equation (Assets = Liabilities + Owners' Equity) and financial statements are the main topics of financial accounting.
A financial accountant prepares the financial statements. The trial balance which is usually prepared using the Double-entry accounting system forms the basis for preparing the financial statements. All the figures in the trial balance are rearranged to prepare a profit & loss statement and balance sheet. There are certain accounting standards that determine the format for these accounts (SSAP, FRS, IFS). The financial statements will display the income and expenditure for the company and a summary of the assets, liabilities, and shareholders or owners’ equity of the company on the date the accounts were prepared to.
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ACAUS - Association of Chartered Accountants in the U.S. is a professional, nonprofit organization that represents the interests of US based chartered accountants in Australia, Canada, England, Wales, Ireland, New Zealand, Scotland, and South Africa.
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All India Cost and Management Accountants - Discussion board and articles for members of the International Cost and Works Accountants of India.
American Accounting Association - Accounting education and research, includes members from academic institutions from around the world. Publishes journals and holds conferences on various accounting-related topics.
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Association of Chartered Certified Accountants (ACCA) - Professional worldwide organization for chartered certified accountants.
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Association of International Accountants - An international accountancy and accountancy examining body, recognised in the UK under the Companies Act 1989.
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Association of Latino Professionals in Finance and Accounting (ALPFA) - Professional association dedicated to enhancing opportunities for Latinos in the accounting, finance and related professions.
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ATMA - Association of Taxation and Management Accountants - Recognised Professional Association (RPA) serves small-business accounting and tax practitioners in Australia.
ATT - The Association of Taxation Technicians - Professional body for taxation technicians in the UK. Members provide tax compliance advice to individuals.
AutoCPA Group - A nation wide association of certified public accounting firms, each of whom specializes in providing professional services to automobile dealerships.
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Canadian Bookkeepers Association - A non-profit organization for the advancement of Bookkeeping Professionals. Includes information on the organization, membership instructions, financial articles, and a search feature.
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Canadian Comprehensive Auditing Foundation - National research foundation with publications and focus on non-financial performance reporting for public sector and corporations.
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Canadian Institute of Chartered Accountants - Information about the CA profession and activities, courses and conferences offered by the Institute and a comprehensive catalogue of over 200 products aimed at accountants and business professionals.
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Certified General Accountants Association Online - National organization for Certified General Accountants in Canada. Includes information about the group, media releases, and online publications.
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Chartered Institute of Management Accountants - CIMA, founded in 1919, is one of the oldest professional organizations devoted to financial management and cost accounting.
CIPFA - Accountancy body for public services - providing education and training in accountancy and financial management. Offering a publications shop with information for members, students and customers.
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Colorado Society of CPAs - Supporting members in providing quality professional services to serve the public interest.
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CPA Associates International (CPAAI) - Europe - A world-wide operating network of auditors, tax advisers and accountants. Firms must demonstrate a high level of competence and quality to become a member of CPAAI. Membership directory and a members-only area.
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European Accounting Association - Organization aims to link together the Europe-wide community of accounting scholars and researchers, to provide a platform for the wider dissemination of European accounting research and to foster and improve research. Includes history, news, publications, and event information.
European Federation of Accountants - Group member and membership details, current issues, publications, news and reports.
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Florida Institute of CPAs - Works to advance the accounting profession in Florida. Includes information for the general public and for accounting professionals.
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Forensic Accountants Society of North America (FASNA) - Organization of independently owned CPA firms that provides a national network for conducting forensic accounting assignments.
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Fort Worth Chapter Texas Society of CPAs - Extensive CPE classes for accountants who need continuing education. Referrals available for a CPA in specific area matching specific needs of clients.
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Institute of Chartered Accountants of India - Regulates the profession of Chartered Accountants in India. Includes. Includes member services, public information, reference sources, and student section.
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Institute of Commercial and Financial Accountants of South Africa - Includes full text of recent issues of the Institute's bulletin, Fact.
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International Federation of Accountants - An organization of national accounting associations and other groups interested in accounting matters.
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Missouri Association of Tax Practitioners - Meeting schedule, officers, pictures, and membership details.
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New Jersey BRM Chapter of Institute of Management Accountants - Bergen Rockland Meadowland chapter. Includes news and events.
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New Jersey Society of Enrolled Agents - State society for licensed Enrolled Agents. Includes events calendar, newsletter, tax tips, and organization information.
New York State Society Of CPAs - NYSSCPA has over 33,000 members, eleven local chapters, state-level committees and their online CPA services.
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Pakistani Professionals Forum - Evolved to address the issues of Pakistani professionals - in the fields of accounting, finance, taxation and banking - who have immigrated to Canada.
Richmond Metropolitan Chapter of National Association of Black Accountants - Includes activities, history, and membership information for Richmond, VA organization.
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South African Institute of Chartered Accountants - Includes a searchable members directory and a description of accounting practice structures and certifications in South Africa.
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