Financial Accounting Greenwood SC

Financial accounting is a form of accountancy that deals with the preparation of financial statements for external organizations around Greenwood, 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

Edward Jones
(864) 229-0444
108A Bypass 225
Greenwood, SC
Countrybanc Investments
(864) 942-2111
419 Main St
Greenwood, SC
Edward Jones
(864) 229-4664
672 Bypass 72 NW
Greenwood, SC
Edward Jones
(864) 223-0104
Greenwood, SC
Wachovia Securities
(864) 223-2211
340 Main St
Greenwood, SC
Edward Jones
(864) 229-6875
Greenwood, SC
Lamar Robert
(864) 227-0041
105 Ginn St
Greenwood, SC
Lachicotte Francis W Investments
(843) 853-2797
31 Smith St
Charleston, SC
Capital Investment Funding Llc
(864) 306-1125
808 Powdersville Rd
Easley, SC
Edward Jones
(803) 256-8986
620 Gervais St Ste C
Columbia, SC

2 . Financial Accounting - Info

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

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

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

West Small Business Services LLC

864-226-0042
212 E Greenville St.
Anderson, SC
www.westsmallbusiness.com

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