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CIS SEPTEMBER 2010 Exam Diet Examination Paper 1.1: Financial Accounting and Financial Statement Analysis Economics and Financial Markets Quantitative Analysis and Statistics Level 1 1 SECTION A Financial
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Financial accounting is the process of recording, summarizing, and reporting financial transactions of a business. Financial statements provide information about the financial position, performance, and changes in financial position of a business.
Businesses, corporations, and other entities that are required to follow accounting standards and regulations set by governing bodies are required to file financial accounting and financial.
Financial accounting and financial reports are typically prepared by accountants who analyze financial transactions, prepare financial statements, and ensure compliance with accounting standards.
The purpose of financial accounting and financial is to provide useful information to stakeholders such as investors, creditors, and regulators about the financial performance and position of a business.
Financial accounting and financial reports typically include balance sheets, income statements, cash flow statements, and notes to the financial statements.
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