It is preferred to summarize the financial accounting techniques and presentation along with the internal controls through covering the main items of financial statements in accounting techniques, financial reporting requirements, financial management, auditing, legal and internal controls view to help the accountant and management to have comprehensive view of each item of financial statements and integrated accounting awareness but in this section we are covering in view of accounting techniques, financial reporting standards (GAAP) and internal controls that is established within framework of Committee of Sponsoring Organization of Treadway Commission (COSO).

Balance Sheets 

Current Assets 

Non-Current Assets 

   - Property, Plant and Equipment (Net)

   - Intangible Assets

   - Long-Term Investment (Investment)

Current Liabilities 

   - Accounts Payable

   - Accrued Expenses (Covered with accounts payable)

   - Other Creditors (Covered with accounts payable)

Non-Current Liabilities 

   - Provision for Contingencies

   - Long-term Loan (Bonds) 


   - Initial Capital paid (or Current Account)

   - Capital Addition

   - Treasury

Income Statement 

Revenue (Net Sales) 

 Cost of Sales

   - Purchases (Covered with accounts payables and accrued expenses)

   - Beginning Inventory (Covered with Inventory)

   - Ending Inventory (Covered with Inventory)

 Selling & Marketing Expense (Covered with purchase and AP)

Administrative Cost (Covered with Purchases, accounts payable and accrued expenses)

Finance Cost 

Tax Expense and Net Income 

Earning Per Share

Comprehensive Income 

Financial Disclosures and Reporting 

Interim Financial Reporting 

Related Parties Transactions 

Consolidation Reporting

Accounting Changes and Error Corrections