Hari ,santosh ,prothsan ,prajjwal Financial

accounting

Introduction

Accounting is a

art of , recording ,reporting and analysis of financial transaction of a business . Also accounting is a language of business

. The person

who take care of

all these things is

accountant . Accountant

always follow a set of rules and regulation to perform his/her job for eg

generally accepted accounting principles .Accounting helps the business to analyze the performance of

business also

to find out weather the business is

running in profit or loss. (eisen 2007) Financial accounting deals with the financial position and performance of a firm

using financial statements issued to

external

users on a periodic basis . Australian

accounting standard

board (AASB) is a Australian standard

setter located in Melbourne Australia . The main aim

of AASB is to develop accounting standards

according to the interest

of public

,

high

quality ,understandable

standards that requires transparent

and comparable

information (aasb 2010 ) AASB is a Australian

government

agency under the Australian

securities and investment

commission act 2001 . AASB has got a vision of

recognizing globally as a distinctive and

high quality

financial reporting

standards setter board .

Tabcorp

is a name of

one of the successful and responsible organization

which conduct

wagering ,gaming , hospitality

and media activities

across Australia

,its main business is in casinos ,wagering

and gaming .It is a public listed

company

which was listed on august

1994 .Star