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1. Financial accounting: This branch is mainly concerned with preparing financial statements. These statements not only help in making decisions but also serve as an indication of an organization’s financial health.
2. Managerial accounting: We can be your accounting homework problem solver even with managerial accounting. This branch of working mainly deals with the internal workings of an organization.
3. Tax Accounting: This branch of accounting is primarily concerned with the process of collecting tax. It is followed mainly by regulatory authorities and the government.
4. Auditing: Being one of the most important branches of accounting, auditing involves examination of financial results of an organization. An auditor examines financial documents such as cash flows, balance sheet, and income statement among others.
5. Cost accounting: Accounting of costs, or cost accounting, is an important branch of accounting. It concerns itself with the unit cost of any rendered service or output produced.
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