Business Accounting and Bookkeeping

What are the three broad areas of accounting?

Answer

Wiki User
02/13/2013

Major accounting firms are usually organized into three divisions:

  • Assurance performs audits of financial statements to determine whether they are presented in accordance with Generally Accepted Accounting Principles.
  • Taxation assists companies in complying with international, federal and state tax laws.
  • Advisory services provides expertise in information systems technology, and other decision-making.

Accountants typically work in one of three areas:

  • Public accountants usually work for accounting firms.
  • Managerial accountants and internal auditors work for companies.
  • Government accountants work for government at different levels, keeping government records or enforcing government regulations.