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Financial Accounting Michigan

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

Washington Consultants
313-874-4533
2758 Evaline
Hamtramck, MI
SDM Tax Services
989-859-3080
2662 Mier Rd.
Midland, MI
Kahn & Company, PLC
248-363-4130
8302 Cooley Lake Road
Commerce Township, MI
Kahn & Company, PLC
248-363-4130
8302 Cooley Lake Road
Commerce Township, MI
Arati Patel & Associates
248 298 2500
1000 John R
Troy, MI
Thomson & Thomson Certified Public Accountants
906-226-1979
1901 W Ridge Ste 4
Marquette, MI
P & L Bookkeeping and Administrative Services
(517) 902-8666
315 North Maiden Lane
Tecumseh, MI
Tervo & Co Financial Fitness
906-869-3113
PO Box 402
Negaunee, MI
Elaine Morgan
586-242-4951
Accounting, Consulting & Tax Preparation
Shelby Township, MI
Hudson Business Services LLC
517-278-7576
28 W. Chicago Street
Coldwater, MI

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

Washington Consultants

313-874-4533
2758 Evaline
Hamtramck, MI
http://washingtonconsultants.bravehost.com
Read more about Financial Accounting

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