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Accounting and Finance Assignment Essay Example

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Accounting and Finance Assignment

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Your personal checking account is established in order to provide a record of individual personal financial transactions you create when you write a check.All of the accounts are listed in a general ledger. Today, the actual ledger book has long since been replaced by accounting software that creates a general ledger on the computer. The concept however has not been altered. The general ledger is the central location for maintaining all your accounts. Journal entries refer to the posting or entering of the financial transactions to a particular account.I could use the official definitions here, but the best way to understand accounts and finances is to learn it in easy terminologies, therefore I am going to use very simple definitions and examples which will be helpful for anyone to understand the subject in matter loud and clear.In first place, finance overcomes the limits of distribution and redistribution service of national profits, although it is the fundamental foundation of finance. Formation and utilisation of the reduction fund which is the part of financial domain does not belong to the distribution, redistribution of national profits but to the distribution of already arose value.This latest first comes out to be a part of value of chief industrial funds, afterward it is moved to the cost price of a geared up product (that is to the value too) and after its realisation and it is set the depression finance. Its foundation is granted before hand as a depression form in the consistence of the ready products cost value.Secondly, main objective of finances is much broader then “fulfillment of the state functions and responsibilities and preparation of conditions for the widened further output”. Finance exists on the state level and on the manufactures and subdivisions level too and in such considerations, when the most fraction of the manufactures are not state. Rodionova has a different position about this subject: “real formation of the financial resources begins on the stage of distribution, when the value is realized and concrete economical forms of the realized value are separated from the consistence of the profit”. Rodionova makes an accent of finances, as distributing relations, when D. Moliakov underlines industrial foundation of finances. although both of them give quite substantiate debate of finances, as a system of

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BIBLIOGRAPHY

1. Finance, Credit, Investments-modern Interpretation [Online] Available at: http://www.redessociales.net/2009/07/finance-credit-investments-modern-interpretation/ [Accessed 08 March 2010]

2. Profit and loss account [Online] Available at: http://moneyterms.co.uk/profit_and_loss/ [Accessed 12 March 2010]

3. Cost[Online] Available at: http://en.wikipedia.org/wiki/COST [Accessed 10 March 2010]

4. Finance terminologies [Online] Available at: http://financial-dictionary.thefreedictionary.com/ [Accessed 10 March 2010]

5. Finance, Credit, Investments-modern Interpretation [Online] Available at: http://derechogt.org/?tag=finance/ [Accessed 08 March 2010]

6. Basic Accounting Terminology 101[Online] Available at: http://www.moneyinstructor.com/art/basicaccounting.asp [Accessed 16 March 2010]

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preview essay on Accounting and Finance Assignment
  • Pages: 10 (2500 words)
  • Document Type: Essay
  • Subject: Unsorted
  • Level: Undergraduate
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