Question

1. What are the branches of accounting ?​

Answer 1

Answer:

The famous branches or types of accounting include: financial accounting, managerial accounting, cost accounting, auditing, taxation, AIS, fiduciary, and forensic accounting.

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Answer 2

Answer:

Branches Of Accounting

Branches of Accounting are :-

• Financial Accounting - Financial Accounting deals with recording, classifying and summarising business events which have already occurred and is therefore historical in nature. It is also known as Historical Accounting or Post-Mortem Accounting or more popularly Financial Accounting.

• Cost Accounting - It deals with detailed study of cost with reference to cost calculation, cost reduction and cost control.

• Management Accounting - It provides information to the management not only about cost but also about revenue, profits, investments etc. to enable managers to discharge their functions of managing the business more effectively and efficiently.

• Social Responsibility Accounting - It involves accounting of social costs incurred by enterprises and social benefits created by it reporting their off.

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