Assets and Losses

TAMAN BUDUL -
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 Assets and Losses: Assets are resources owned by a business that have economic value. They can be tangible assets (e.g., cash, inventory, buildings) or intangible assets (e.g., patents, trademarks). Losses, on the other hand, represent a decrease in the value of assets or an increase in liabilities.

TAMAN BUDUL

Accounting and finance are crucial functions within any organization, as they involve recording, analyzing, and reporting financial transactions and information. Accounting primarily focuses on recording and summarizing financial transactions, preparing financial statements, and maintaining accurate books of accounts. It helps in monitoring the financial health of a business and provides essential information for decision-making, budgeting, and forecasting. There are different branches of accounting, including financial accounting, management accounting, and tax accounting, each serving specific purposes.

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