Branches of Accounting:
- Financial accounting refers to accounting refers to accounting for revenues, expenses, assets, and liabilities. It involves the basic accounting processes of recording,
classifying, and summarizing transactions.
- Cost accounting is the branch of accounting dealing with the recording, classification, allocation, and reporting of current and prospective costs.
- Managerial accounting is the branch of accounting designed to provide information to various management levels in the hospitality operation for the purpose of
enhancing controls.
- Tax accounting is the branch of accounting relating to the preparation and filing of tax forms with the government agencies. Tax planning to minimize tax payments is a
significant part of the tax accountant’s work.
- Auditing is the branch of accounting involved in reviewing and evaluating documents, records, and control systems. Auditing may be external or internal.
2007-06-18 03:26:29
·
answer #1
·
answered by Sandy 7
·
0⤊
0⤋