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    Abm Fabm11iiia 56

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    Mica Lao Agawa
    The document discusses the main branches of accounting, which are: 1. Financial accounting, which involves recording and presenting financial statements for internal and external users. 2. Managerial accounting, which focuses on providing information to management for decision making. 3. Auditing, which examines accounting reports to evaluate their fairness. Auditing can be internal or external. The document provides brief descriptions of other accounting branches such as cost accounting, tax accounting, government accounting, accounting education, and accounting research.

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    Abm Fabm11iiia 56

    Uploaded by

    Mica Lao Agawa
    101 views33 pages
    The document discusses the main branches of accounting, which are: 1. Financial accounting, which involves recording and presenting financial statements for internal and external users. 2. Managerial accounting, which focuses on providing information to management for decision making. 3. Auditing, which examines accounting reports to evaluate their fairness. Auditing can be internal or external. The document provides brief descriptions of other accounting branches such as cost accounting, tax accounting, government accounting, accounting education, and accounting research.

    Original Description:

    Fundamental Accounting in Business Management

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    © © All Rights Reserved

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    The document discusses the main branches of accounting, which are: 1. Financial accounting, which involves recording and presenting financial statements for internal and external users. 2. Managerial accounting, which focuses on providing information to management for decision making. 3. Auditing, which examines accounting reports to evaluate their fairness. Auditing can be internal or external. The document provides brief descriptions of other accounting branches such as cost accounting, tax accounting, government accounting, accounting education, and accounting research.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    101 views33 pages

    Abm Fabm11iiia 56

    Uploaded by

    Mica Lao Agawa
    The document discusses the main branches of accounting, which are: 1. Financial accounting, which involves recording and presenting financial statements for internal and external users. 2. Managerial accounting, which focuses on providing information to management for decision making. 3. Auditing, which examines accounting reports to evaluate their fairness. Auditing can be internal or external. The document provides brief descriptions of other accounting branches such as cost accounting, tax accounting, government accounting, accounting education, and accounting research.

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    BRANCHES OF ACCOUNTING

    PROFESSION
    Body of knowledge that can be
    learned through formal education
    and with standards of conduct higher
    than those imposed by law.
    BRANCHES OF ACCOUNTING
    GOVERNMENT ACCOUNTING
    COMMERCE AND INDUSTRY

    EDUCATION/ACADEME

    PUBLIC/INDEPENDENT
    ACCOUTING
    1. Financial accounting involves
    recording and classifying business
    transactions, and preparing and
    presenting financial statements to
    be used by internal and external
    users.
    2. Managerial or management
    accounting focuses on providing
    information for use by internal
    users, the management;
    C1 Importance of Accounting

    is a
    Accounting Identifies
    system that

    Records

    information
    Relevant Communicates
    that is

    Reliable
    to help users make
    Comparable better decisions.

    1-6
    3. Cost accounting refers to the
    recording, presentation, and
    analysis of manufacturing costs.

    It determines future courses of


    action regarding the company's
    operations.
    4. AUDITING
    - The examination and review of
    accounting reports in order to
    ascertain their fairness, propriety
    and reliability.
    4. Auditing
    External auditing refers to the
    examination of financial statements with
    the purpose of expressing an opinion as
    to fairness of presentation and
    compliance with GAAP.

    Internal auditing focuses on evaluating


    the adequacy of a company's internal
    control structure
    5. Tax Accounting
    involves determination of income tax
    and other taxes, tax advisory services
    such as ways to minimize taxes legally,
    evaluation of the consequences of tax
    decisions, and other tax-related matters
    6. Government accounting is the
    process of recording, analyzing,
    classifying, summarizing communicating
    and interpreting financial information
    about government in aggregate and in
    detail reflecting transactions and other
    economic events involving the receipt,
    spending, transfer, usability and
    disposition of assets.
    7. ACCOUNTING EDUCATION

    - planned grading and formal


    teaching in an educational
    institution.
    8. ACCOUNTING RESEARCH

    - Conducting careful and diligent study


    aimed at discovering and interpreting
    facts, revising accepted theories in the
    light of new facts, or the practical
    application for the generation of new
    knowledge.
    BRANCHES OF ACCOUNTING
    1. FINANCIAL ACCOUNTING
    2. MANAGEMENT ACCOUNTING
    3. GOVERNMENT ACCOUNTING
    4. AUDITING
    5. TAX ACCOUNTING
    6. COST ACCOUNTING
    7. ACCOUNTING EDUCATION
    8. ACCOUNTING RESEARCH
     CHECK UP
    BRANCHES OF ACCOUNTING
    CPA REVEWER EDUCATION/ACADEME
    BANK COMMERCE AND INDUSTRY
    EXAMINER
    BIR EXAMINER GOVERNMENT
    TAX PUBLIC/INDEPENDENT
    CONSULTANT ACCOUTING
    BRANCHES OF ACCOUNTING
    1. Which branch of
    accounting is involved
    in reviewing and
    evaluating
    documents, records,
    and control systems?
    It may be internal or
    external.
    AUDITING
    2. Which branch of
    accounting is designed to
    provide information to
    various management
    levels for the purpose of
    enhancing controls and
    decision making?

    MANAGERIAL ACCOUNTING
    3. It involves the basic
    accounting processes of
    recording,
    classifying, and
    summarizing transactions

    FINANCIAL ACCOUNTING
    4. Which branch of
    accounting deals with
    the recording,
    classification, allocation,
    and reporting of current
    and prospective costs of
    manufacturing company.

    COST ACCOUNTING
    Which branch of
    accounting relates to the
    preparation and filing of
    forms with planning to
    minimize payments due
    to the government?

    TAX ACCOUNTING
    It involves recording and
    classifying business
    transactions, and preparing
    and presenting financial
    statements to be used
    by internal and external users.
    It focuses on providing
    information for use by internal
    users, the management;
    It refers to the recording,
    presentation, and analysis
    of manufacturing costs.
    It refers to the examination of
    financial statements with the
    purpose of expressing an opinion
    as to fairness of presentation
    and
    - The examination and review of
    accounting reports in order to
    ascertain their fairness,
    propriety and reliability.
    It involves determination of
    how much businesses have to
    pay what is due to the
    government and other related
    matter.
    It is the process accounting
    about the government in
    aggregate and in detail
    reflecting transactions and
    other economic events involving
    the receipt, spending, transfer,
    usability and disposition of
    assets.
    It is the planned grading and
    formal teaching in an educational
    institution.
    Conducting careful and diligent
    study aimed at discovering and
    interpreting facts, revising
    accepted theories in the light of
    new facts, or the practical
    application for the generation of
    new knowledge.

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