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What is Accounting?

Accounting is one of the most popular subjects among students pursuing masters and PhD courses. It is defined as a process of identifying, measuring, recording, and communicating the required information related to the economic events of an organization to the interested users. Accounting subject is very critical for students aiming to become professional accountants. It enables the student to grasp insights about the theories and concepts related to accounting and then to apply the learning into practice in their professional career. The accounting education teaches how businesses manage their accounts and transactions in a financial year. According to our accounting Assignment Help Australia, experts keeping a check on every monetary activity of the business is very important as it reflects the real picture of whether the business is going forward or backwards.

In accounting subject, the students get the chance to learn about how a business records financial information of the business such as the proportion of assets, amount to be received, amount to be paid, and amount of capital at the end of the year. Many students need help with accounting assignments as need to write the summarised data for all the aspects of accounting which is not easy for any student. In such circumstances, a student must take the accounting assignment help from the experts to submit an assignment worthy of scoring higher grades.

Important Aspects Defined by Accounting Assignment Help Experts

  • Cost Accounting: It is a means by which the costs of products and services are defined and controlled. The main objective of this accounting is to ascertain the costs of goods and services in different departments. It is the process of accounting for costs.
  • Management Accounting: It consists of cost accounting, inventory control, budgetary control, working capital management, etc. As per the managerial accounting assignment help experts, the main objective of this management is to ascertain the information required by the management to take decisions for running the enterprise.
  • Financial Accounting: It is the original form of accounting. It maintains the systematic record of bookkeeping. The main purpose of financial accounting is to ascertain the financial position of the business.
  • Inflation and Tax Accounting: This branch of accounting is used for tax purposes therefore known as taxation accounting. For example, value-added tax, sales tax, service tax, excise duty are all comprised in tax accounting.
  • Social Responsibility Accounting: Every business enterprise has its responsibility towards society by providing employment, good working conditions, paying fair wages, etc. This process identifies and measures the social effects of business decisions to permit informed judgments and decisions by the users of accounting data and information.

Advantages of Accounting Assignment Help Australia

  • Tells Profit and Loss: The profit and loss account is prepared at the end of each year which gives the net profit earned or loss incurred during the year. Thus, accounting brings the information of net results of all the business transactions.
  • Tells Financial Position: The Balance Sheet is prepared at the end of the accounting year which discloses the financial position of the business. It also highlights the position and values of the assets and liabilities of the business.
  • Comparative Study: Keeping a complete systematic record is very helpful as accounting helps the owners to compare the current year's results with the results of previous years. Such comparisons prove to be of great importance while taking managerial decisions.

Disadvantages of Accounting Assignment Help Australia 

  • Does Not Bring The Whole Picture: Financial accounting only includes the quantitative aspects rather than the qualitative aspects. Our Australian accounting assignment help experts reckon it is concerned with the activities which can be of monetary value. The non-monetary activities like labour relations, quality of goods, etc. These issues cannot be ignored.
  • Does Not Indicate Realizable Value: The Balance Sheet does not show the amount of cash that the firm realizes by the sale of assets. This is because the assets are not meant to be sold; they are meant for use.
  • Accounting Based on Historical Costs: Accounts are prepared on the basis of original (historical) costs. The financial statement does not show the effect of the changes in the price level. Many assets remain undervalued. Therefore, the value of assets is not helpful in estimating the financial position of the business.

Expert Accounting Assignment Help Online Service  

LiveWebTutors has been providing accounting assignment help online for over a decade. Our experts help the students to solve their queries ranging from simple topics to complex ones. Our writing team comprises of best accounting assignment help Australian experts from all over the world with years of experience in writing assignments.

With immense expertise and excellence in knowledge, our experts serve the students with fast and accurate answers. Over the last decade, many accounting students have availed of our assignment help accounting
Australian services get the desired results in academics. It has made us one of the most trusted and preferred Homework Help destinations for the students of Accounting.

System of Our Accounting Assignment help Service

(1) Double Entry System: It consists of every transaction having a two-fold effect on the business i.e. debit and credit. A transaction is recorded once on the debit side and again on the credit side. Both the aspects are recorded. This system of accounting proves to be a complete accounting system that is followed by every enterprise.

Features:

  • In this system, one aspect is debit and the other aspect is credit.
  • The total of debits is always equal to the total of credits.
  • It maintains a systematic record of all the transactions.

Advantages:

  • Complete Record of Transactions: It is a complete and systematic record of assets and liabilities as it shows the correct income or loss. Both sides of the transactions are recorded.
  • Check on The Accuracy: With the use of this system accuracy of the accounts can be established by preparing the trial balance.
  • Scientific System: This system of Double Entry is the only scientific system as compared to the other systems of Book Keeping. It also fulfils the objectives of accounting.

Disadvantages:

  • Expensive: The maintenance of the books needs specialized knowledge and skills. It needs trained and effective staff to work. Such staff asks high salary which makes this system costly.
  • Does Not Suit Small Business: this system of bookkeeping is not suitable for small-scale businesses where only a few transactions take place.
  • Knowledge of Bookkeeping: Sound knowledge of the principles of accounting and the procedure of maintaining them is required for maintaining the books. Not everybody is able to maintain this system of accounting.
  • Single Entry System: It is referred to as an incomplete double-entry system. All the accounts are not maintained in this system; only personal accounts and cash books are maintained. For some transactions, only one aspect is recorded whereas for others both the aspects are recorded. This system of accounting is not reliable. It is incomplete and unsystematic.

Professional Accounting Assignment Help Online From LiveWebTutors

Our do my accounting assignment online service is available round the clock. We ensure a high level of satisfaction to our customers. You can get in touch with our customer service over email (cs@livewebtutors.com ) or by doing a live chat. Our tutors are trained to assist the students in the best possible way. LiveWebTutors exposure to accounting assignment help make us one of the best online help providers in the world. If you need any help and assistance in your assignments then you are just a click away. Complete the accounting assignment help form given at the top of this page and we will reach you within 10 minutes.

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Frequently Asked Questions

If you have more queries about our services, explore the questions mentioned below to get them resolved.

The accounting assignment help experts of our platform work day in and day out to make sure they deliver the ordered assignments prior to the set deadline so that the student can review the content and ask for any revisions in due time. We respect the deadline shared by you and hence provide top quality work within the set time frame.

Yes, definitely! The accounting assignment help online service by the LiveWebTutors is not extended to just a single nation. A large pool of native accounting assignment experts from different parts of the globe is all set to write proficient solutions as per the requirements of the institutions at your location. We ask the location of our clients and accordingly assign an accounting expert.

We have a dedicated panel of subject matter experts, academicians, and professionals who master in the field of accounting to tackle all the accounting academic tasks proficiently. They carry years of experience in offering assistance to students who need help with accounting assignment and want to achieve satisfactory outcomes in just a few hours.

LiveWebTutors has a rigorous quality control panel that is completely focused on ensuring the delivery of nothing but the best to the clients. Once the accounting assignment help experts share the finished assignment, the quality control panel thoroughly checks the assignment for errors to ensure students receive the best quality assignment. You can judge the quality of the work delivered to you and can contact us if you are not satisfied with any segment of your accounting assignment. We will make amendments as per your instructions without charging any extra fees.

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