Accounting can be classified under four parts that includes financial accounting, management accounting, tax accounting and auditing. Which can be further described as follows:
- Financial accounting: financial accounting is that field in accounting that describes all the financial transactions the cash inflow and cash outflow in any organisations. The payments investment in resources machinery payment of salaries all falls under financial accounting.
- Management accounting: management accounting which is also known as managerial accounting is that field where the managers normally uses the provision of the information about accounting in order to have a proper knowledge about it before presenting any idea and having any discussion before the organisation which adds to aids of their managerial performance and have a proper and full control over the functions that they perform for the organisation of management accounting.
- Tax accounting: tax accounting is that field that refers to accounting and management of tax in any organisation. That includes payment of taxes in one financial year. There are many portals that offers student accounting help. This help offered by the subject experts go a long way in making accounting concepts clear to the students.
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