Need Urgent Help Understanding Basic Accounting and Finance Concepts – Can You Explain?

1. What do you know about tax?

2. If an account has a debit balance, what does it mean?

3. What is finance?

4. What is net profit?

5. What do you mean by the word accounting? What is an accounting method?

6. What is meant by cost accounting? How is it different from financial accounting?

Hi,

Cost accounting is generally an estimate of the manufacturing concern, whereas financial accounting includes actual figures and is not restricted to only manufacturing.