Q:

Is financial accounting a particular branch of accounting?

A:

Quick Answer

Financial accounting is a branch of accounting concerned with recording and monitoring transactions a business makes. By tracking cash flow, the financial accountant develops an accurate picture of the company's financial standing and performance.

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Full Answer

One of the main duties of financial accountants is developing regular financial reports, such as balance sheets, income statements and cash flow statements. The accountant releases the reports on a schedule determined by the company, typically yearly, quarterly or monthly. Publicly traded companies generally release the reports to the public so that shareholders and potential investors have access to the information they need to assess the value of the company.

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