Question

Define accounting what are the various type or branches of accounting

Answer 1

Answer:

Accounting or accountancy is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations

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

Answer 2

Answer:Accounting is a process, which systematically and comprehensively records business events and transactions, and translate it into the financial information of the business entity to assist the stakeholders in the decision-making process The famous branches or types of accounting include: financial accounting, managerial accounting, cost accounting, auditing, taxation, AIS, fiduciary, and forensic accounting

Explanation: