a- Financial Accounting-
The accounting which involves the preparation or making of accurate and
reliable financial statement is known as Financial Accounting. The main
focus of financial accounting is to measure the performance of organization,
firm, business or company. There are many accounting standards and
principles such as International financial reporting standards, US Generally
Accepted Accounting Principles or Indian Accounting Standard which are
widely working in India. The accounting standard are so much importance
because It brings uniformity and easy interpretation in the financial
statements from year to year.