Professional Documents
Culture Documents
Branches of Acctg
Branches of Acctg
Accounting
Financial Accounting
Financial accounting is the broadest branch
and is focused on the needs of external users.
Financial accounting is primarily concerned
with the recognition, measurement and
communication of economic activities. This
information is communicated in a complete set
of financial statementsa complete set of
financial statements
Branches of
Accounting
1. Preparation of general-purpose
financial statements
2. Evaluation of the performance of a
sales department
3. Develop standards to address a new
business set up
4. Review tax compliance of the
business
5. Evaluate whether a branch of the
business complies with the collection and
deposit policy of the company
6. Review whether the financial
statements are presented fairly and in
compliance with accounting standards
7. Report on the spending of government
funds
8. Report on the total cost of materials and
labor used in the production
9. Conducting lectures on accounting
topics