Answer:
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities.
What are the basics of accounting?
Some of the basic accounting terms that you will learn include revenues, expenses, assets, liabilities, income statement, balance sheet, and statement of cash flows. You will become familiar with accounting debits and credits as we show you how to record transactions.
What is accounting and types of accounting?
Types of Accounting / Branches of Accounting. ... The famous branches or types of accounting include: financial accounting, managerial accounting, cost accounting, auditing, taxation, AIS, fiduciary, and forensic accounting.
What Are The 3 Types of Accounts in Accounting?
Personal Account.
Real Account.
Nominal Account.
At a glance: The different types of accounting
Financial accounting.
Governmental accounting.
Public accounting.
Cost accounting.
Forensic accounting.
Management accounting.
Tax accounting.
Auditing.
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