Accounting Assignment Writing Help
Nowadays, students are seeking Accounting assignment help to meet their homework deadlines. Before taking help from assignment help services, the students should understand the basics of Accounting. Cheapest Assignment provides students with accounting assignment services in different branches of Accounting like Financial Accounting, Management Accounting, Fund Accounting, Tax Accounting, and Auditing.
Accounting – What is it?
Accounting is mainly the study of different financial transactions. A company appoints an accounting professional who takes care of the company’s financial reporting, assets, and stocks. Hence, it can be said that accounting deals with a complete study of the financial dealings related to an organization, in which the accounting professional reviews, analyses and presents a full report of the company’s financial dealings.
Importance of Accounting
Keeping a correct and detailed track of a company’s finances is very important for its success. Without this, the company’s profit or loss cannot be known. Hence, for a company to be successful in their venture, a proper sheet of all the transactions should be maintained. For this purpose, the company appoints an accountant who understands the company’s financial profit and loss. This also makes “accounting” an important skill which each professional should possess in order to understand the company’s goal and be successful in their profession.
Branches of Accounting
Management Accounting –
Management or Managerial Accounting is the process in which the managers are produced with the financial statements which have the detailed finance related information of the company. This report contains both real-time data as well as previous data of the company. The managers review this data and take informed decision related to the company’s aim and strategies. These data not only help in taking long-term decisions but also help in taking short-term decisions that help in achieving the company’s objective.
Cost Accounting –
Cost Accounting is a part of management accounting in which the actual cost associated with the manufacturing of any product is determined. It mainly includes the preparation of budget and analyze the profit/loss that happens in the manufacturing of that product. This information helps the managers to decide which products can be more profitable for the company. It also helps them to decide where they need to work more to save on costing and increase the profit. There are basically two types of costs – Fixed cost and Variable cost. Cost related to rent, lease expense, loan payment, etc. come under fixed costs. Variable cost varies with the amount of production done. In case of increase in production, the supplies, labor cost, etc. increases, hence, the cost of manufacturing also increases.
Financial Accounting –
Financial accounting is one of the most branches of Accounting. Being a specialized branch, it helps the students to learn about how to keep a track of the financial transactions of a business. The students learn the methods to record the different transactions, summarize the data and present it in the form of a financial report, for e.g. balance sheet or cash flow statement. Mainly the stakeholders, owners or lenders can get this data unless they have public stakeholders. So, the students learn to design the reports based on the needs of the company.
Fund Accounting –
The Governments and Non-profit organizations (NGOs) use fund accounting. This branch mainly deals with keeping an account of the revenues, donations, or taxes which the organization receives. The accountants keep a track of the fund received, which can only be used for specific purposes in a non-profit organization. They also keep the record of all the donations or revenue received and expenditure and create the NAV (Net Value Asset) of the organization.
Tax Accounting –
Tax Accounting is mainly about the taxes that the citizens of a country pay. In the UK, what kind of tax returns should be submitted mainly depends on the type of business one runs or if the person or business is registered under VAT or not. Taxes can either be filed by the individuals or by hiring an accountant. The accountant not only helps in filing the tax but also advises on the type of tax one should pay, ways of financing your future taxes and also advises on the tax accounting methods which is best. Thus, the branch of tax accounting teaches the students how to calculate the individual’s tax and how to decide which tax method is best for a business.
Auditing is one of the most important branches of Accounting. In auditing, the auditor examines the company’s financial records like the balance sheet, cash flows, income statement, etc. This help in knowing if the business is following ethical ways of business. Hence, the auditors inspect the financial information of the company and verify their financial accounts. In case of a mismatch in the data and unethical practice by the company, the auditor highlights it and penalizes the company. There are mainly two types of auditors – Internal Auditor and External Auditor.
The company employes an Internal Auditor. They check the internal processes like operations, risk management, etc. and advise on its improvements. An External Auditor comes from outside the company and does an auditing of the company’s financial data.
Why students cannot do Accounting Assignments easily?
One of the most demanding profession is that of Accounting. However, many students find it difficult to complete their accounting assignments. This is because there are many data related work that requires analysis and case studies that consume a lot of time. Students do not have enough time to give to one assignment due to other personal and professional responsibilities. Thus, students should be under the right guidance and start seeking help with accounting assignments from accounting experts. Here are a few reasons students need help with accounting assignments.
Numerical Calculation –
Knowledge of numerical calculation is very important in Accounting as it mainly deals with the data (of the company). Students should have a good knowledge of basic calculating techniques before going for a profession in Accounting.
Balancing the Accounts –
The balancing of the accounts is very important as it tells that the information entered are all accurate to knowledge. In case there is an imbalance in the data, the accountant will be answerable for that. Thus, it is important to keep the accounts up-to-date by entering the data-related information accurately and on time.
Time management –
Many students are unable to manage their time properly and they rush into entering the data, which leads to mistakes. In Accounting, the entered data should tally with the real data to get the correct result. If the data does not tally then it will lead to an incorrect calculation of the company’s revenues and expenses. Thus, students should provide all the information and files before booking their accounting assignments with accounting homework help services. Also, to get the best help with accounting assignment, one needs to provide ample of time to the expert to do the financial calculations and solve the assignment.
Cheapest Assignment – #1 in Accounting Assignment Help
We have highly qualified Accounting Experts who believe in providing assignments done with proper analysis. Urgent Assignments goes through multiple expert eyes to provide quality in a limited time. We provide plagiarism-free work and deliver it at the agreed time. We provide the lowest price as compared to the other accounting help services in the UK and Australia. However, the quality of the assignment is still top-notch and is never compromised.