MindMap Gallery Branches of accounting

Branches of accounting

Accounting is a fundamental aspect of business and finance that involves the recording, analyzing, and reporting of financial transactions. It plays a crucial role in decision-making, resource allocation, and performance evaluation for individuals, businesses, and organizations. Here are some of the primary branches of accounting:

Edited at 2022-08-03 08:18:27

Branches of accounting

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Outline

branches of accounting

financial accounting

broadest branch

conforms with accounting standards developed by standard-setting bodies

economic activities

concerned with the recognition, measurement and communication of economic activities

management accounting

accounting information of the organization

prepare & analyze

summarize communication interpret

reflecting transactions and other economic events involving the receipt, spending, transfer, usability and disposition of assets and liabilities

government accounting

government financial information

summarize communicate interpret

reflecting transactions and other economic events involving the receipt, spending, transfer, usability and disposition of assets and liabilities

record analyze classify

summarize communication interpret

reflecting transactions and other economic events involving the receipt, spending, transfer, usability and disposition of assets and liabilities

auditing

external

independent

reflecting transactions and other economic events involving the receipt, spending, transfer, usability and disposition of assets and liabilities

internal

company

reflecting transactions and other economic events involving the receipt, spending, transfer, usability and disposition of assets and liabilities

tax accounting

tax-related matters

cost accounting

manufacturing costs

recording presentation analysis

reflecting transactions and other economic events involving the receipt, spending, transfer, usability and disposition of assets and liabilities

accounting education

accounting curriculum

the development of the profession

reflecting transactions and other economic events involving the receipt, spending, transfer, usability and disposition of assets and liabilities

accounting research

to create new knowledge

financial information

reflecting transactions and other economic events involving the receipt, spending, transfer, usability and disposition of assets and liabilities

effects of economic events