Financial accounting tools for business decision making.

Financial accounting is a system of recording, analyzing and reporting financial data for decision-making purposes. It helps organizations to make informed decisions about their finances by providing them with accurate information about assets, liabilities, equity and income statements. Financial accounting also provides an objective view of the financial performance of companies over a certain period of time. By using this information, managers are able to identify which areas need improvement or additional investment in order to maximize efficiency and profitability. Additionally, investors can use financial statements to help assess different investments before making a decision as to where they should invest their money. In short, financial accounting is an essential tool that businesses use in order to manage their finances effectively while making sound business decisions.