{ "item_title" : "Financial Accounting", "item_author" : [" Derese Alehegn "], "item_description" : "Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized and presented in a financial report or financial statement such as an income statement or a balance sheet. The two types - or methods - of financial accounting are cash and accrual. Although they're distinct, both methods rely on the same conceptual framework of double-entry accounting to record, analyze and report data transnational at the end of a given period - such as a month, quarter or fiscal year. Financial accounting serve the following purposes: producing general purpose financial statements. producing information used by the management of a business entity for decision making, planning and performance evaluation. producing financial statements for meeting regulatory requirements. The difference between finance and accounting is that accounting focuses on the day-to-day flow of money in and out of a company or institution, whereas finance is a broader term for the management of assets and liabilities and the planning of future growth. Accounting is the bookkeeping method involved.", "item_img_path" : "https://covers3.booksamillion.com/covers/bam/6/20/281/487/620281487X_b.jpg", "price_data" : { "retail_price" : "94.93", "online_price" : "94.93", "our_price" : "94.93", "club_price" : "94.93", "savings_pct" : "0", "savings_amt" : "0.00", "club_savings_pct" : "0", "club_savings_amt" : "0.00", "discount_pct" : "10", "store_price" : "" } }

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