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Specialised fields of accounting is Financial accounting , cost accounting & management accounting. The classification is purely based on what kind of accounting activities are conducted. E.g; in the case of financial accounting historical business transactions are recorded in the books of accounts of an undertaking. In some situation possible certain due transactions are entered as due entry. Costs considered are historical costs of various transactions
In the case of cost accounting cost calculations are done keeping historical & estimated costs. Cost accounting & the process calculating costs vary according to nature of business manufacturing activity or operating activities. costs are classified for costing & estimation which is essential in costing . Accounting function for costs can be historical /estimated or both depending on the policy.
Another field of management accounting encompasses both cost & financial accounting data /books to generate management reports (purely internal confidential reports). financial auditor verifies the truthfulness of financial records.
financial accounting data is publicized in the form of annual financial reports .costing & management accounting data are generated for internal purposes & they are also subject to cost & management audit.
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Fields in accounting?
There are many fields in accounting including, forensic, tax and general accounting. Typically, specialized accountants make the most money in the industry.
What is the 4 fields of accounting?
In accounting there are four main areas. They are as follows corporate accounting, corporate finance, public accounting and investment banking.
What is accounting module?
An accounting module refers to a set of standardized parts of accounting that are used in teaching the accounting students. The accounting modules are usually broken down into a number of subjects to enable the learners to easily understand certain accounting concepts.
Difference between business transaction and personal transaction?
I made a research and it says that: Business transaction is a economic activity or event that initiates the accounting process of recording it in the firm's accounting system while personal transaction means is a set of custom fields grouped together into a specific transaction type ad linked into a role. -Internet, Wikipedia
What is electronic accounting?
Electronic accounting is accounting that is not done in physical books, and ledgers that you can touch. Electronic accounting is done using software on a computer, or done online.
Specialized Accounting Fields?
Some specialized accounting fields include: tax accounting, corporate accounting and forensic accounting. Studying for these types of accounting position requires extra classes in college.
Specialized fields of accounting?
Specialized fields in accounting include tax accounting and forensic accounting. To take advantage of these specialties you must find a university offering the courses.
What specialized fields exists in accounting?
Some of the specialized fields in accounting include auditing and taxation. Many CPAs opt for taxation fields so that they can specialize and be able to prepare the taxation files of a company.
Fields in accounting?
There are many fields in accounting including, forensic, tax and general accounting. Typically, specialized accountants make the most money in the industry.
What are the four broad fields of accounting?
The four broad fields of accounting are:FinancialManagerialTaxationOther/Accounting-related
Enumerate various sub - fields of accounting?
enumerate and define the fields of accounting and the sub category
What is the 4 fields of accounting?
In accounting there are four main areas. They are as follows corporate accounting, corporate finance, public accounting and investment banking.
In which employment fields can accounting be used?
in bank
What dictionary that contains words and definitions related to accounting is a?
specialized dictionary.
What is a computerized accounting system?
It is the accounting system under which books of accounts are prepared and managed by using specialized computerized accounting softwares like quickbooks, peachtree, SAP, oracle or Microsoft excel etc.
Are career opportunities in accounting plentiful?
Accounting jobs have been affected by the recession like everything else. However, opportunities are still better in accounting than in other fields, like the arts.
Which fields can benefit out of people with analytical skills?
There are many fields of work that can benefit by hiring people with analytic skills. These fields include computer programming, banking, business, accounting, and credit offices.
