There are three fields of accounting; these are financial accounting, cost accounting, and management accounting. Many different accounting jobs and services fall under these three main categories. Most companies require accurate reckonings of their profits and losses; the practice of accounting presents this information in defined ways. For example, yearly fiscal reports, month-end statements, and payroll calculations may be part of an accountant's roster of services. Here are some guidelines regarding the types of tasks and jobs that fall under the three largest fields of the accounting industry:
Fields Of Accounting
Financial Accounting - In this type of accounting, receipts and received funds are tracked in chronological order; when a specified time period is up, these losses and gains are analyzed according to a pre-defined format. Net gains and losses are easy to spot in the organized and efficient reports submitted by accountants to their valued clientele.
Cost Accounting - This sort of accounting may also be referred to as manufacturing accounting. This business style of accounting is based on the concept that the price of an item or service will directly dictate how much profit it generates. Lower-cost products will increase profit ratio. Accountants perform record keeping and analysis to ensure that ideal pricing is in place, in order to help manufacturers boost their bottom lines.
Managerial Accounting -In this sort of accounting, financial information is recorded according to the specific requests of a board or directors or management team (or a single manager). Data may be analyzed in different formats, or dimensions, to facilitate business planning and more effective decisions about budgets, pricing, labor costs, and other variable expenses and business issues.
The fields of accounting are taught at universities, colleges, and community classes. High schools may also have more general coursework related to basic accounting practices. Understanding which type, or field, of accounting works for a specific type of business will help to ensure that records are kept as they should be, and that optimum analysis can occur.
Some of them
1. Financial Accounting
2. Cost Accounting
3. Management Accounting
4. Auditing Accounting
5. Tax Accounting
Answered BY S.Jalal. Pakistan, Peshawar
*Management Advisory Services
List the fields of accounting
The two types of field accounting are:
1. Public Accounting
2. Private Accounting
---I hope you're happy to my answer... That's all.. Thank you..
There are three fields of accounting which are as
3) risk management
just because account is related with finance and they are two sides of coin...
By prof DR. ASHISH SHRESTHA, NEPAL
I'm not sure but I think it's Public accounting, Management accounting, Government accounting and Internal auditors? Correct me if I'm wrong. :-J
The professional accounting industry, the company Yellow Pages , massive collection of professional accounting manufacturers, distributors, service providers, and provides professional accounting firms, the company released second-hand equipment, transfer of information and buy information.