What are main functions of financial accounting?

Financial accounting helps organization in following ways.

 It reflect the financial results and condition of the organization.

 Provide mechanism to analyze the performance of the company.

 Provide better visibility and control.

 Helps in the decision making.

 Helps in tax compliance.

 Helps in formulating financial policy and planning.

 Its primary beneficiary is outsiders, such as investors, creditors, and lenders.