Class 12 Accounting

Company Accounting (often referred to as Corporate Accounting) is a specialized branch of accounting that deals specifically with the financial activities of a company or corporation.

Financial statements are the structured reports that a company's management prepares to describe its financial performance and condition. They provide a standardized way for investors, creditors, and internal stakeholders to see where the money came from, where it went, and where it sits now.

Cost accounting is a specialized branch of accounting focused on capturing a company's total cost of production by assessing the variable costs of each step of production, as well as fixed costs, such as a lease expense.

Computerized Accounting System (CAS) is a software framework that helps a business manage its financial transactions, events, and reports according to Generally Accepted Accounting Principles (GAAP).