Accounting is an integral part of majoring in economics, finance, business management, marketing, and even sociology. As a student, you will likely have to complete various accounting tasks such as bookkeeping, tax planning, payroll analysis, financial statement evaluation, and more. While accounting may seem complex and full of unfamiliar concepts initially, our online accounting homework helper service can provide the expertise and guidance you need to succeed.
It is a complex and precise field that requires accuracy with numbers and financial evaluations. Even if you have a good understanding of accounting concepts, creating error-free accounting assignments can be challenging. This is why requests for “do my accounting homework for me” are so common amongst students nowadays. Luckily, there is a better solution than struggling alone or copying someone else’s work. We expert online accounting assignment help to take the stress out of your academic work.
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Main Types of Accounting
Accounting can be divided into several key branches based on the specific financial activities and purpose.
Financial accounting: It involves preparing financial statements like income statements, balance sheets, and cash flow statements in order to report on a company’s financial performance. Our online accounting homework helpers can assist students with assignments involving recording transactions, posting entries, adjusting entries, financial statement preparation, and more financial accounting topics.
Managerial accounting: It focuses on providing financial information to managers within a company to support budgeting, costing, performance evaluation, and data-driven business decisions. Our accounting assignment help experts can support students with managerial accounting homework, case studies, and exercises related to budgeting, cost accounting, variance analysis, and other concepts.
Tax accounting: It deals with understanding taxation laws and preparing various tax forms and filings like personal 1040s and corporate 1120s. Our accounting homework help online professionals can help students with tax accounting assignments involving income tax preparation, calculating income tax liabilities, researching credits and deductions, and other tax compliance tasks. Tax accounting encompasses various types of taxes that businesses and individuals must pay on income, property, goods, and other assets. This includes:
- Value-added tax (VAT) applies to businesses at each stage of manufacturing and distribution where value is added to products or services. Our online accounting homework helpers can explain VAT calculations and compliance for your tax accounting assignments.
- Excise tax targets non-essential and luxury goods like alcohol, tobacco, and fuel. Our accounting assignment experts can provide guidance on excise tax rates, collection, and implications for consumer behavior.
- Road tax, or toll tax, is levied on major highways and roads based on usage rates and distance traveled. Our accounting homework help online tutors can assist with assignments about how these taxes are calculated and utilized for infrastructure upgrades.
- Property owners must also pay annual taxes for facilities and services in their locality, with rates based on property value. Our online accounting assignment help specialists can support assignments about property tax roll preparation, millage rates, assessments, and appeals.
- Estate and inheritance taxes apply to individuals inheriting large asset sums, with exemptions for dependents and lower-income groups. Our accounting tutors can help explain estate tax forms, allowable deductions, and other concepts.
Forensic accounting:It utilizes accounting skills to investigate financial irregularities or tracing assets. Our online accounting assignment helpers can explain key concepts like assembling financial data, tracing funds, and producing reports suitable for legal review. Some of the key ways forensic accounting is applied include:
- Bankruptcy Analysis – Forensic accountants can review records and financial statements to determine causes of bankruptcy and assess whether it was fraudulent or unavoidable. This aids legal proceedings.
- Breach of Contract – By reviewing payment histories, financial statements, and relevant communications, forensic accountants can determine if breach of contractual obligations occurred.
- Business Valuation – Forensic accountants can assess the true market value of a business based on objective analysis of its assets, revenues, liabilities, and operations.
- Economic Damages Calculation – Forensic accountants quantify financial damages resulting from incidents like professional malpractice, product defects, or loss of business.
- Insolvency Analysis – Detailed analysis of cash flows, debts, assets, and liabilities can reveal if insolvency was fraudulent or inevitable.
- Money Laundering Detection – By tracing suspicious transactions and flow of funds, forensic accountants can uncover complex money laundering schemes.
- Reorganization Evaluation – Forensic accounts assess viability of corporate restructuring plans to continue operations during bankruptcy.
- Securities Fraud Investigation – Deceptive accounting practices that misstate earnings and assets can be detected to identify securities fraud.
- Tax Fraud Detection – Forensic analysis of financial records can identify manipulations and schemes to evade tax obligations unlawfully.
Auditing:Examines a company’s financial documents and processes to ensure accuracy and compliance with regulations. Our online accounting assignment helpers can support auditing assignments covering audit planning, risk assessment, evidence gathering, sampling, and reporting.
Affordable Online Accounting Assignment Help: Concepts in Accounting
You need to understand a number of conceptual issues to have a foundation of how accounting works. Here are the basic accounting concepts that you should learn:
Accrual’s concept
This concept identifies those expenses that are obtained when assets are consumed and revenue is earned. This means that a business may realize profits and losses in amounts varying from what would be realized based on the cash received from clients. Auditors only certify financial statements prepared based on the accruals concept.
Conservatism concept
Conservatism holds the idea that revenue is only realized whenever there is the certainty it will be recognized and expenses whenever there is a reasonable possibility they will be incurred. This concept promotes conservative financial statements. If you do not understand this concept, feel free to seek homework help accounting from us and our writers will be glad to offer assistance.
Consistency concept
This concept holds the idea that once a firm chooses to implement a specific accounting method, it needs to keep using it going forward. This helps to reliably compare financial statements created in different periods.
Going concern concept
The going concern concept identifies those businesses that operate on the assumption they will still operate in the future. Based on this concept, expenses and revenue recognition are deferred to a future time, when the business is still operating. Without this concept, all expense and revenue recognition would get accelerated in the present period.
Matching concept
This concept holds that expenses related to revenue need to be recognized at the same time at which the revenue was realized. It helps to make sure there is no deferral of expense recognition in the future. Anyone viewing the firm’s financial statements is assured that all transactions were recorded during the same period.
Materiality concept
Materiality holds that transactions need to be recorded in cases where failure to do so could alter the decisions of anyone reading the company’s financial statement. This results in small-size transactions getting recorded to make sure that financial statements represent financial results and the financial position of a business.
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