Service Details

Advanced modern accountancy training center

Some financial information is better provided, or can be provided only by means of financial reporting other that formal financial statement. Examples include the president’s letter or supplementary schedules in the corporate annual report, prospectuses, reports field with government agencies, news release, management’s forecasts, social or environmental impact statement companies may need to provide such information because of authoritative pronouncement, regulatory rule or custom: or they may supply it because management wishes to disclose it voluntarily

Financial accounting is the process that culminates in the preparation of financial reports on the enterprise for use by both internal and external parties. Users of this financial report include investors, creditors, managers, unions, and government agencies.

Resources are limited. As a result, people try to conserve them and ensure that they are used effectively. Efficient use resources often determine whether a business thrives. This fact places a substantial burden on the accounting profession. Accountants must measure performance accurately and fairly on a timely basis, so that the right manages and companies are able to attract investment capital.

For example, relevant and faithfully represented financial information allows investors and creditors to compare the income and assets employed by such companies. An effective process of capital allocation is critical to a healthy economy. It promotes productivity, encourages innovation, and provides an efficient and liquid market for buying and selling securities and obtaining and granting credit. Unreliable and irrelevant information leads to poor capital allocation, which adversely affects the securities markets and the economy of the country at large. Globalization is occurring rapidly. As economic and other interactions increase among countries, capital markets must provide high- quality financial information. A need therefore existing for high quality financial reporting standards; international financial reporting standards (IFRS) that meet this objective.

Financial statements

  • Statement for financial position,
  • Statement for profit or loss and other comprehensive income
  • Statement for cash flows, and
  • Statement for change owner’ or stakeholders’ equity.
How should I structure my small business?
One of the first decisions you’ll make when starting up is your business structure. The structure you choose impacts taxes, liability, control, and how to pay yourself from your business and Andvance will help you with that.
In Advance we help you to plan your finance the best way you can and give you ways to make you business better.
Debits increase asset and expense accounts. Debits decrease liability, equity, and revenue accounts. Credits do just the opposite. Credits increase liability, equity, and revenue accounts. And, they decrease asset and expense accounts.

What type of challenge are you facing? Let’s talk

Theme Skins:

Note: This will not change any image colors (logo, icon colors..etc)