Question

__________ are widely used tools of financial analysis because they provide clues and symptoms of underlying conditions. They can help us uncover conditions and trends difficult to detect by inspecting individual components of the statements.

Answer 1

Ratios are widely used tools of financial analysis because they provide clues and symptoms of underlying conditions. They can help us uncover conditions and trends difficult to detect by inspecting individual components of the statements.

What are the types of accounting?

Generally speaking, there are different types of accounting and these include the following:

1. Forensic accounting
2. Management accounting
3. Tax accounting
4. Internal auditing
5. Financial accounting
6. Public accounting
7. Government accounting
8. Corporate accounting

What is financial accounting?

Financial accounting can be defined as an accounting technique that is used for analyzing, summarizing and reporting of financial transactions such as sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines e.g Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB).

Generally speaking, we can reasonably infer and logically deduce that ratios simply refers to widely financial tools that are typically used by financial accountants, auditors, and data analysts, especially for the analysis of financial statements and other statistical metrics because they are able to provide clues and symptoms of any underlying condition.

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