Which one is good Public accounting or Private accounting?

Answer 1

Public and Private Accounting Career opportunities in accounting fall most broadly into two categories: public and private. Public accounting firms range from one-person operations to large multinational organizations that employ thousands of professionals. They provide a variety of services to their clients, who are usually individuals or other businesses. Most often, career paths in public accounting are either in audit or tax. The task of audit professionals-as the word implies-is to carefully and rigorously audit and document all the financial records and business transactions of their clients. The auditing process results in the accountant's "stamp of approval" on the client's business activities. The auditors verify that all client accounting records that are publicly reported (to shareholders, potential investors, etc.) are accurate and that they abide by national accounting standards. Tax Accountants provide similar services, but with a more specialized focus. The task of tax professionals is to ensure that their clients' tax records are accurately documented, and that they follow guidelines established by local and national tax agencies. Tax accountants also provide a consulting role by helping their clients minimize their tax liabilities. Private accounting refers to the internal accounting function of companies. Private or corporate accountants perform the same types of tasks of public accountants, yet these tasks are specific to the companies for which they work. Private accounting can be distinguished from public accounting in one important way. Whereas public accounting is more involved in the collecting and external reporting of financial information, private accounting is more involved in the internal use of financial information to help managers within the company make more effective business decisions.