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Students pursuing accounting and finance courses are fully aware of the complexity of the two subjects. They have to read and prepare numerous financial statements, analyse and create balance sheets and develop solid mathematical and reasoning skills. Attributing to these difficulties, students often fail to deliver accounting and finance assignments with utmost quality. Are you also amongst them and looking for accounting and finance assignment help? We have a team of accounting and finance assignment experts who can help you flawlessly prepare any accounting and finance assignment.

Accounting and finance are the crucial elements of a business, no matter how small or big. Accounting is considered the "language of business," and finance is the "literature behind that language." Finance helps interpret the accounting data given in the financial statements and reports, enabling business owners to make informed business decisions. My Essay Mate can provide you with professional accounting and finance assignment help, enabling you to master complex topics with ease.

Difference Between Accounting And Finance

Basic Principles of Accounting and Finance Explained by Accounting and Finance assignment expert

Irrespective of the size of the businesses, accounting, and finance, are the two intertwining disciplines that will forever be crucial for business growth. Companies have to keep in mind certain fundamental accounting principles while reporting any financial data or making huge business transactions. So, what are those fundamental principles? Let's discuss each one of them.

Accounting principles

  • Business entity
    As per this concept, a business and its owners should be considered segregated entities as far as the business transactions are concerned.
  • Dual aspect
    This concept explains the interdependence of debit on credit. A financial transaction is recorded only when this dual aspect is considered.
  • Cost
    A company's fixed assets are recorded based on the original costing during the first year of accounting. In the following years, assets are recorded after deducting depreciation.
  • Money measurement
    Business transactions are recorded only in terms of money. However, other transactions can be recorded separately.
  • Accounting year
    Every business selects a particular period to finish its accounting procedure. For instance, monthly or annually.
  • Realization
    This concept considers a business profit only when it is earned. A paid fee or an advance made can't be considered a profit until the goods have been supplied to the consumer.
  • Matching
    As per this concept, for each recording of a revenue entry during a specific accounting period, a corresponding expense entry is recorded to correctly calculate the profit or loss made during that period.
  • Going concern concept
    As per this concept, a business is assumed to continue and carry out its operations for a long time. Thus, they cannot be forced to stop functioning and dissolve their assets. 
  • Materiality
    It's an accounting convention that believes all materialistic facts should be recorded diligently in accounting.
  • Conservatism
    As per this convention, in case two values of a business transaction are available, a low-valued transaction is recorded. This enables companies never to overestimate their profits and have a convention for the losses.

Financial principles

  • Risks and rewards
    This financial principle is based on the fact that risk is associated with every reward. Companies should understand where and how to take a particular risk because high-risk investment with little or no profit is a complete waste of business assets.
  • Valuing money and time
    This principle emphasizes making more money from investing. Inflation is unpredictable and continual, and thereby, money earned today will be more valuable in the future as the average prices of goods and services skyrocket during inflation.
  • Diversifying the investments
    Distributing the investments can reduce the risk posed to an investor. For instance, if an investor invests in oil stocks and for any reason oil is scarce in the marketplace, all his investments will get affected. However, if he makes a diversified investment and the oil stocks downgrades, he has other options to explore.
  • Hedging
    This principle entails that companies should take loans from reliable sources. The majority of the businesses could not secure their businesses with insurance policies. In case of emergencies, they opt for personal loans for quick cash instead of popular legal sources of short-term and long-term loans.
  • Efficient financial marketing in pricing securities
    A financial market always considers a company's historical information, such as its demand and supply and future predictions. This could benefit the investors because the economic environment tends to change with time.
  • Cash flow
    This financial principle explains the inflow and outflow of cash. It also entails the significance of time. This principle considers the early profits instead of later year profits.

Accounting and Finance Assignment Expert Shares the Scope of The Course

Accounting and finance are all about making lots of money. Accounting and finance are the two major study domains for which several programs have been offered by some of the renowned universities of Australia. Some of these universities are Monash University, the University of New South Wales, the University of Sydney, the University of Melbourne, Australian National University, and the University of Western Australia.

What are the Learning Outcomes of Accounting and Finance?

Upon successful completion of accounting and finance programs, students will be able to:

  • Describe and implement the international accounting standards
  • Assess and contrast different investments
  • Critically examine the information of financial statements to aid in decision making
  • Understand and implement the theories of accounting and finance
  • Describe the fundamental principles of accounting and finance
  • Develop an understanding of receivables, inventories, liabilities, long-lived assets, and stockholder's equity

Programs related to accounting and finance offer numerous career options such as tax accounting, budget analysis, bookkeeping, corporate financing, investment banking, public accounting, and portfolio management. 

What are the Branches of Finance and Accounting?

Finance and accounting are broad terms that are subdivided into various branches. Before considering any Accounting and Finance assignment help from experts, you must know the basics. Here we have discussed the major subdivisions of accounting and finance.

Accounting branches

  • Management accounting
    It is the practice of preparing reports about business operations, enabling managers to make informed short-term and long-term decisions. It also involves creating and examining budgeting costs related to products, activities, or services. Management accounting information is confidential and is usually not disclosed to outside parties.
  • Financial accounting
    It is the practice of preparing financial statements outlining past events, probably in balance sheets and profit and loss accounts. These statements are crucial for outside parties such as suppliers, loan providers, and investors.
  • Financial management
    This aspect of finance encompasses the financial raising and its usage of various resources required by a business most efficiently. The capital cost is determined by the capital structure and the risk associated with the investments (Beauchamp, 2014). 

Finance branches

  • Corporate finance
    This branch of finance encompasses financial activities involved in running a business, usually with a specific department assigned to oversee the financial activities. For instance, a large corporation may raise funds through stock offerings or a bond issue. It can take advice from investment banks on such considerations to market their securities.
  • Personal finance
    Financial planning encompasses analysis of the current financial position of individuals to devise strategies for the future within the financial refrainment. Personal finance is dependent upon an individual's activities and circumstances. Hence, financial strategies are primarily determined by an individual's earnings, savings, living requirements, desires, and future goals.
  • Public finance
    Public finance involves spending, taxing, debt-issuance, and budgeting policies that determine how the government has to pay for the services provided to the public. The state and federal governments help overcome market failures by overlooking financial stability, income distribution, and resource allocation. The government also takes help from banks, other developed nations, and insurance companies to manage their finances (Lusardi, 2015).
    Besides these topics, there are many other concepts of accounting and finance for which students may approach accounting and finance assignment help.

Get Free Access to Accounting and Finance Assignment Samples by the My Essay Mate

Our top-class accounting assignment help will make you master every complex topic effortlessly. If you are battling with the complex assignments of accounting and finance, our assignment experts can help you compose quality assignments. Our experts can provide you with specialized tips and tricks and customized notes per your university guidelines. Here are some samples of accounting and finance assignments solved by our experts for your reference. 

Accounting And Finance Assignment OverviewAccounting And Finance Assignment StatsAccounting And Finance Assignment HelpAccounting And Finance Assignment Solved By Expert

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