what is the relationship of accounting with other fields of specialization?

Question

pls help me find out what is the relationship of accounting with other fields of specialization or other fileds of business.

Answer 1

- 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.

Managerial cost accounting should be a fundamental part of the financial management system and, to the extent practicable, should be integrated with other parts of the system. Managerial costing should use a basis of accounting, recognition, and measurement appropriate for the intended purpose. Cost information developed for different purposes should be drawn from a common data source, and output reports should be reconcilable to
each other.