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So now we come to the next type of accounting, which is forensic accouting and tax
accouting
- FORENSIC
I will begin with forensic accounting .
What is forensic accounting ? => Forensic accounting is about using ways
accounting skills to investigate( inˈvestəˌɡệt) illegal and fraudulent(frojùlənt )
accounting practices and to analyze(anlơˌīz) financial statements to take legal action.
Forensic accounting may also be referred to as financial forensics.
Next, I'll tell you the forensic accouting roles
Forensic accounting is a combination(combnation) of accounting and investigative(in
ˈvestəˌɡādiv) techniques (tekˈnēk) used to uncover financial crimes(cramz).
-One of the main functions of forensic accountants is to explain the nature of financial
crimes to the courts(kôrt).
-Forensic accounting requires the use of funds for tracing, asset
identification(identifaication), asset recovery and due diligence(ˈdiləjəns)
-Forensic accounting is used by the insurance industry to establish(ờtablish)
damages(demơjịt) from claims(cleem).
Finally , you need to know about Types of forensic accounting .
There are 3 common types of forensic accounting
 Fisrt, Forensic accounting for litigation(lidəˈɡāsionf) support
-Forensic accounting is used in litigation when it is necessary to quantify damages.
Parties involved(invol) in legal disputes use quantifiers to assist in resolving(rə
ˈzäzing) disputes through (THro͞o) settlement (ˈsedlmənt) or court decisions.
 Then , Forensic accounting for criminal investigations
Forensic accounting is also used to discover whether a crime has occurred (əˈkərt) and
to assess the likelihood (ˈlīklēˌho͝od) of criminal intent. Such crimes may include
employee theft, securities fraud, falsifyingˈ(fotsəˌfīng) financial reporting information,
identity theft, or insurance fraud
 Finnally, Forensic accounting in the insurance industry
Forensic accounting is used frequently ˈ(frikwəntly) by the insurance industry. In this
capacity (kəˈpasədē), a forensic accountant may be asked to quantify the economic
damages arising from a vehicle accident, a case of medical malpractice (melˈpraktəs),
or a number of other claims.
Here are some examples of forensic accounting
 - He admitted to errors on his financial disclosure forms and said he would
hire a forensic accounting firm to review his records
- After all that has happened, the U.S. Congress should conduct a forensic
accounting of the baseball books.

TAX ACCOUNTING
Do you know tax accounting ?
-Tax accounting is an operational part of accounting, performing economic operations
arising at enterprises related to tax bases, tax reports and tax obligations of enterprises
to the State.
-Tax accounting play a similar role as a bridge between businesses and the state.
So what is the role of tax accounting?
• Tax accounting for an individual
For an individual taxpayer, tax accounting focuses(focowzid) only on items such as
income, qualified deductions, investment gains or losses(loszz), and other
transactions(trenzacsion) that affect the individual's tax burden. . This limits the
(zi)amount of information needed for an individual to manage annual(ˈanyồl) tax
returns and while a tax accountant can be used by an individual, it is not a legal
requirement.
• Tax accounting for a business
From a business perspective, more information must be analyzed as part of the tax
accounting process. While corporate (kôrpơrate) earnings, or incoming funds, must be
tracked in the same way as for individuals, there is an additional(ờdidsional) level of
complexity involved with any outgoing money going toward business obligations.
Certain(sơlduwnf) business. This can include funds geared toward specific business
expenses as well as funds geared toward shareholders.
• Tax accountant for a tax-exempt organization
Even in cases where the organization is tax exempt, tax accounting is required. This is
because most organizations are required to file returns every year. They must provide
information about any incoming funds, such as grants or donations, as well as how the
funds are used in the running of the organization. This helps to ensure that the
organization complies with all laws and regulations governing the proper operations of
an exempt legal entity.
Let's take a look at the responsibilities of tax accounting
 Prepare tax payments
 Estimate(éttowfmate) and track tax returns
 Complete quarterly(cuadli) and annual (anyồl) tax reports
 Organize and update the company’s tax database
 Recommend tax strategy (stradəjē) that align with business goals
 Prepare necessary paperwork for tax payments and returns
 Share financial data with the accounting department
 Identify tax savings and suggest ways to increase profits
 Follow industry trends and track changes related to taxes
 Liaise(liaayz) with internal and external auditors
 Forecast tax predictions to senior managers.
Okay, that ends of my talk . That's all we mean about accounting types. Thank
you all for listening, it was a pleasure being here today.