financial accounting
[faɪˈnænʃəl əˈkaʊntɪŋ]
noun
contabilidade financeira
1. The branch of accounting that records, summarizes, and reports financial transactions of a business to external stakeholders such as investors, creditors, and regulatory agencies.
Financial accounting provides the foundation for preparing annual financial statements and tax returns.
A contabilidade financeira fornece a base para a preparação de demonstrações financeiras anuais e declarações fiscais.
2. The systematic process of identifying, measuring, and communicating financial information about an organization's economic activities.
The company hired a new financial accounting manager to ensure compliance with GAAP standards.
A empresa contratou um novo gerente de contabilidade financeira para garantir conformidade com as normas GAAP.
In Brazil, financial accounting is essential for regulatory compliance with the Central Bank (Banco Central) and the Securities Commission (CVM - Comissão de Valores Mobiliários). Companies must follow the Brazilian Corporate Law (Lei das Sociedades Anônimas) and increasingly adopt IFRS standards. In the USA, the SEC (Securities and Exchange Commission) enforces GAAP compliance. Financial accounting is crucial for transparency in both markets and is a key discipline in business schools.
Related Idioms & Phrases
cook the books (manipular dados contábeis)
bottom line (resultado final)
in the red (com prejuízo)
in the black (com lucro)
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