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Financial Accounting Pennsylvania

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

Excel Bookkeeping Service
(215) 783-6572
5903 Michael Drive
Bensalem, PA
Accounting, Tax and Financial Consultants, PC
215.946.3677
333 Oxford Valley Road Suite 604
Fairless Hills, PA
Accounting & Tax Specialists
570-424-8453
1015 Fairview Ave
Stroudsburg, PA
Timothy J. Hegarty, CPA
570-420-8110
560 Main St
Stroudsburg, PA
Larry Rosenblum Enrolled Agent
215-852-6696
2865 S. Eagle Rd #319
Holland, PA
Office of Jonathan M. Mason, CPA
(484) 232-6072
393 Nazareth Pike, Suite B
Bethlehem, PA
Wagner, Morey & Nee, LLC
(610) 351-0506
2571 Baglyos Circle, Suite B 20
Bethlehem, PA
KPMG LLP
(610) 530-1972
4905 Tilghman Street, Suite 300
Allentown, PA
Haines & Company
(814) 362-1795
125 Main St. Ste. 806
Bradford,, PA
Howell & Co. Inc
(814) 368-3513
13 Main Street
Bradford, PA

 

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

Excel Bookkeeping Service

2157836572
5903 Michael Drive
Bensalem, PA
www.bookkeepingtime.com
Read more about Financial Accounting

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