Accounting: process of systematically collecting, analyzing, and reporting financial information.
Private accountant: employed by a organization
Private Accountants provide the following services:
General accounting: recording business transactions and preparing financial statements
Budgeting: Develop budgets for sales and operating expenses.
Cost Accounting: Determining the cost of producing specific products or services.
Tax Accounting: Planning tax strategy and preparing tax returns for the firm.
Public Accountant: an accountant whose services may be hired on a fee
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showed last 75 words of 678 total
a firms financial statements
Net profit margin = Net income after taxes
Return on equity = net income after taxes
Earnings per share = Net income after taxes
Working Capital: difference between current assets and current liabilities.
Current Ratio = current assets
acid-test ratio = current assets – inventory
accounts receivable turnover = net sales
Debts-to-assets ratio = total liabilities
Debt-to-equity ratio = total liabilities