Financial accounting gathers and summarizes financial data, primary objective of financial accounting is the preparation of financial statements – including the balance sheet, income statement and cash flow statement.
We can assist in the preparation of Financial Accounts, namely:
- Trial Balance
- Profit & Loss statements
- Balance Sheet
- Cash flow forecasting
Note: The main difference between Management Accounting and Financial Accounting is that management accounts are primarily for assisting owners & managers make decisions about their business whereas financial accounting is for providing information to parties outside the organisation like IRD, Banks etc.