TYPES OF ACCOUNTING
are several different types or branches of accounting.
The most prevalent are:
is concerned with the systematic recording, presenting and interpreting of the
financial transactions of an enterprise.
is concerned with the systematic and prompt recording and analysis of finance,
material, labour and expense, and
with the interpretation of this information to disclose the cost of particular
services and products and to reveal any inefficiencies in the conduct of
includes the activities of a Cost Accountant and the areas of envisaging,
formulating and co-ordinating future plans and measuring their execution.
the preparation of accounts for taxation purposes and advice thereon.
Involves the making of checks on presented financial reports and financial records and internal financial procedures to ascertain accuracy, compliance with policies set by the entity, to ascertain fraud or defalcation and to make recommendations for improvement in accounting procedures and policies.
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