Financial Accounting Theory

Financial accounting is so important that nearly every management institute in the world compulsorily trains its students about it, teaching core principles and why it is important to develop a record keeping habit not just in the industry but personally as well. When seen from a personal point of view too, financial accounting can lend much support to one’s own finances. In our modern times, we see a number of apps and software on mobiles and computers specifically intended to maintain a record of our personal record. In its conceptual entirety, maintaining personal finances itself constitutes one of the practical forms of financial accounting.