Accounting Assignment Help, Online Accounting Tutors

Round-the-clock Accounting help - Get High Quality Accounting Assignment Help at Reasonable Price!

Assignment Help Accounting Assignment Help

ABOUT ACCOUNTING

Accounting is the process of systematically recording, communicating and measuring the information about the financial transaction. Accounting is also termed as the process of summarising, analysing and reporting the transactions to the external and internal users of information.

Accounting includes the essential functions like:- Identifying the financial transaction, recording them in the books then classifying them into the account after that prepare the financial statements so that the information collected can be represented and communicated to the users of the information.

Accounting can be done on a cash basis or an accrual basis. Cash accounting records only cash inflows and outflows, whereas in Accrual concept, expenses and the incomes incurred in the period are considered irrespective of the fact whether they are paid or received or not.

ADVANTAGES OF STUDY OF ACCOUNTING :-

It offers information which is useful to the management for decision making.
It helps the organisation to compare the results on a yearly basis.
It provides information about the financial position of the business through the balance sheet of the organisation.
It helps in keeping systematic and complete records of the transactions, which helps in assessing the liabilities such as income tax, sales tax etc.

LIMITATIONS:-

It contains the information which are in monetary terms.
It is based on different concepts and conventions.

There are three types of financial statements produced in accounting which are as follows:-

Income Statement - This statement considers the income and expenses of the company. It shows the net profit or the net loss of an organisation during a particular accounting period.
Balance Sheet - It shows the information relating to the financial position of the firm. It shows assets on one side and the Liabilities on another.
Cash Flow Statement - It shows the cash flows from all the activities.

ACCOUNTING IS HELPFUL IN DIFFERENT AREAS:-

Cost Accounting
Financial Accounting
Management accounting

There are several standards on which the accounting works for recording and preparing financial statements, they are known as GAAP Generally Accepted accounting principles. These principles are classified into two categories:-

Accounting Concepts
Accounting Conventions.

THERE ARE THREE ACCOUNTING ASSUMPTIONS:-

Going concern assumption - This concept assumes that business will continue forever. The enterprise has an indefinite life.
Consistency assumption - By this assumption, we mean that accounting policies and practices which are adopted are to be followed consistently year after year. The change will only be done if it is mandatory to do as per the change in the government policies or for the better presentation.
Accrual assumption - As per this concept all revenues and the cost are recognised when they are earned or incurred, it is immaterial whether the cash is paid/ received or not.

Accounting Standards (AS) and the International Financial Reporting Standards (IFRS) - These are the fundamentals or the written statements, issued time to time by the institutions clarifying the rules and practices for the financial statements. IFRS are the financial standards issued by the International Accounting Standards Board (IASB) to provide a common global language across the world to understand the company accounts.

In accounting the financial report is based on consumer receptiveness. In maximum cases accountants use generally accepted Accounting principles (GAAP) at the time of preparing financial statements. GAAP is related to balance sheet identification, sharing measurements and many accounting related issues. There are different fields of accounting those are

Financial Accounting: It can handle bank reconciliation, taxation, financial statements, and many more. In financial accounting money is taken as the company's economic performance.

Managerial Accounting: It is responsible for management unlike the financial accounting. It is used to keep the information about cost of products purchased by the company. Managerial accounting is also known as cost accounting.

Corporate Accounting: It is a branch of accounting which can keep information and for preparing cash flow statement for companies. Corporate accounting is used to the operations for a single firm or company.

International Accounting: It is focused on using accounting standards which is developed by US companies. The AIS or accounting information system provides management with the useful information to aid in informed financial decision making.

The concepts of Accounting

They are the regulations which govern the accounting profession. Where they conflict the users and preparers of Accounting statements can agree on methods of accounting to use.

Money measurement concept - record transactions which can be quantified in monetary terms

Accrual concept - income must be recorded in the accounting statements in the year in which the services for the prepaid income are realized. Accrued incomes must be recorded in the accounts in the period they are occurring rather than when they will be realized.

Duality aspect concept - requires that each transaction is recorded twice, one entry on the debit and the other on the credit side of the ledger accounts. Debit is the part of the transaction which decreases liability, capital (equity) and profits and increases expenses and assets.

Matching concept - Expenses incurred is recorded in the statement for the period in which the revenues matching to those expenses relate.

Accounting period concept - This is the period of operation of the business which is usually one year and does not have to coincide with the calendar year

Realization concept - under this concept revenue is recognized and recorded in the accounting statements in the period it is earned regardless of when it is realized.

Accounting Information System

An accounting information system is a computer aided method of collecting and processing accounting data necessary for providing Accounting information to end users. An accounting information system consists of data, systems, procedures and processes, hardware and software applications and people.

Take the help of online Accounting Assignment Services at Mywordsolutions

Accounting isn't everyone's cup of tea, so it's no surprise that you experience problems understanding the subject day after day. Don't worry, it's normal. However, you can't go through your course not understanding the subject or you'll fare badly in your exams. So, to help you tide over this problem, it would be best for you to get in touch with expert tutors who offer professional Accounting Assignment Help. With their years of experience in the academic world and their in-depth knowledge of the subject, they will be able to give you a firm background which will help you understand and grasp all the concepts related to this subject.

There are many other benefits that you can reap by taking the help of these tutors, such as:

Highly qualified academics: Our tutors are all Masters in Accounting, if not Ph. Ds, so they can teach the subject to any student residing in different parts of the world.

Easily understandable lessons with 100% solutions: Our Accounting tutors are adept at simplifying the toughest concepts for students. They are backed by their decades of teaching and rendering students Accounting Homework Help, always guaranteeing 100% solutions to their problems.

Modern teaching skills: Our tutors can match the level of the student with appropriate and modern teaching skills so that students understand the lesson in no time. When students understand the nitty-gritty of the subject, Accounting becomes fun and students feel enthused to study on their own.

Round-the-clock Accounting help: No matter what students are stuck with in the course of their study, all they need to do is to approach us, 24x7. The time doesn't matter because we are open to international students residing in different time zones. Just ask for help and they will get it immediately. Students need to sign up for help from a personal tutor and very soon, his class rolls out.

One-on-one sessions: All students aren't cut out to study in a group. With class lectures being delivered to students more than 40 in a class, it's easy to get left behind. Instead of feeling disgruntled at not having had a satisfactory class, students can now get their own one-on-one tutor and understand the subject better.

Walk into an online classroom: Our Online Accounting Tutors can give you all the benefits of an online class--individual attention, repeating a concept as many times as necessary, working out of doubts to the student's satisfaction, you name it. All the student needs to do is to identify his trouble spots and the tutor will iron out his difficulties. By using an interactive whiteboard, it's easy to see the calculations being worked out by the tutor so that the student sees the procedure he needs to employ.

Better grades very soon: With the help rendered by a reputed Accounting Assignment Writing Service, students can get good grades and this will make them confident of tackling it. In time, they will also have mastery over the subject, thanks to this extra help.

Economical prices: Online Accounting services ensure that their prices are what students can pay. So, without worrying about the expenses, students should approach them and get cracking with understanding the nuances of Accounting.

Just so that time does not slip out of a student's hands, he should zero in on a good online Accounting help agency and begin to benefit by their help.

Choose Mywordsolutions for Accounting Assignment Help

At, Mywordsolutions.com we have an ability board enveloping different accounting researchers and capable authors with many years of involvement in Accounting Tutors Service to put your exploration thoughts in the correct track. There is a lot of assignments provider in the world but Mywordsolutions is at top among them due to its quality and time oriented service. Our price is very low according to our quality that is the main reason for students to follow us. We never pressure anyone for payment. As per your choice you can pay us. There is a multiple payment option for all. To know more details visit us today.

We offer online assignment help, accounting assignment writing service, accounting solutions, university homework help and tutor service at affordable price. We provide best quality accounting assignment solutions at reasonable price. The scholars can acquire our services at very cheap price and they can have option to preserve their grades by using tutor services.

Why we for accounting assignment help service?