Accounting is the process of recording and measuring data which provides the financial as well as non-financial information about the enterprises and many types of accounting are bifurcated according to the needs of the user for better results as well to ensure the financial position of the enterprises. Accounting is a dynamic and vast profession that is crucial to implemented by the companies according to the needs. There are kinds of accounting which are specific to the need of the users. There are seven types of accounting. They are financial accounting, management accounting, public accounting, tax accounting, forensic accounting, financial accounting, social accounting and tax accounting. There are different branches of accounting, each serving a different purpose. The various accounting system helps in gathering and maintaining the records in a proper manner so that those data can be used in multiple reports. It creates a system within the business with many inherent checks to highlight the mistake or fraud.

Prachi Garg

178 resources

0

0

0

Like