What is the objective of financial accounting?

Question: What is the objective of financial accounting?

The objective of financial accounting is to provide accurate and reliable information about an organization's financial performance and position to external stakeholders, such as investors, creditors, and regulators. This information is communicated through financial statements, which report on an organization's revenues, expenses, assets, liabilities, and equity. The ultimate goal of financial accounting is to help stakeholders make informed decisions about the organization, such as whether to invest in it, extend credit, or regulate its activities.

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