what is financial accounting 
financial accounting is a specific branch of accounting involving a process of recording summarizing and reporting the myriad of transactions resulting from business operations over a period of time these transactions are summarized in the preparation of financial statements including the balance sheet income statement and cash flow statement that record a company s operating performance over a specified period work opportunities for a financial accountant can be found in both the public and private sectors a financial accountant s duties may differ from those of a self employed accountant who works for many clients preparing their accounts tax returns and possibly auditing other companies investopedia laura porter