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Financial Accounting Connecticut

Financial accounting is a form of accountancy that deals with the preparation of financial statements for external organizations around Connecticut, such as stockholders, suppliers, banks and government agencies. This site will provide in-depth information about financial accounting is and how accounting standards have changed over the years.

1. Local Companies

2. Financial Accounting - Info

3. Meaning of Accounting Equation

4. Balance Sheet

5. Featured Local Company

1 . Local Companies

Fulco, DiTommaso, McMahon & Co., PC CPA's
(860) 589-1418
225 north main st suite 306
bristol, CT

Edwin R. Muenzner CPA, LLC
(860) 892-1040
12 Case Street, Suite 202
Norwich, CT

Safety Priority Consultants, LLC
1-800-809-0059
185 Main St.
New Britain, CT

Fulco, DiTommaso, McMahon & Co., P.C. CPA's
(860) 667-0105
365 Willard Avenue Ste 2-G
Newington, CT

Fulco, DiTommaso, McMahon & Co., PC CPA's
(860) 667-0105
365 Willard Avenue Suite 2G
Newington, CT

Accounting & Services
(203) 216-3500
235 Strawberry Hill Ave
Norwalk, CT

Jackie Matchett Personnel
203-777-1151
1890 Dixwell Avenue
Hamden, CT

Sacoto Agency
203-330-2669
1879 Main Street
bridgeport, CT

Alan J. Grouse
203-457-0690
42 Harrison Road
Guilford, CT

Cadwell & Associates, LLC
203 453-2989
741 Boston Post Road, Suite 307
Guilford, CT

2 . Financial Accounting - Info

Reporting of the financial position and performance of a firm through financial statements issued to external users on a periodic basis. 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 agent's performance.

3 . Meaning of Accounting Equation

The value of a company can be understood simply as the useful assets that ownership of a company entitles one to claim. This value is known as Owners' Equity. Some assets of a company, however, cannot be claimed as equity by the owners of a company because other people have legal claim to them - for example if the company has borrowed money from the bank. The value of a resource claimable by a non-owner is called a liability. All of the Assets of a company can be claimed by someone, whether owner or not, so the sum of a company's equity and its liabilities must equal the value of its Assets. Thus the accounting equation describes what portion of a company's assets can by claimed by the owners.

Various account types are classified as 'credit' or 'debit' depending on the role they play in the accounting equation.

Assets = Liabilities + Equity (move assets to the right)

0 = -Assets + Liabilities + Equity

4 . Balance Sheet

A financial accountant must equal assets with liabilities and owner’s equity. The balance sheet (or the statement of financial position) is the financial statement that summarizes the assets, liabilities, and owners’ equity of the company.

5 . Featured Local Company

Fulco, DiTommaso, McMahon & Co., PC CPA's

(860) 589-1418
225 north main st suite 306
bristol, CT
www.fdmcpa.com

Read more about Financial Accounting

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Many people are looking for a financial advisor to discuss their financial planning such as retirement, investment, tax, real estate, general planning, etc. Money Magazine has ranked being a financial advisor as the third best job in the United States with an average salary above $120,000.

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Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History