Question

Discuss briefly the branches of accounting.

Answer 1

. owners, shareholders, management, suppliers, creditors, taxation authorities and various government agencies, etc. There are three mainbranches of accounting which include financial accounting, cost accountingand managementaccounting..

Answer 2

financial accounting. (Financial accounting is concerned with the preparation of periodic financial reports by using historical data of a business enterprise.)

cost accounting (The cost accounting is concerned with categorizing, tracing and collecting manufacturing costs of a business enterprise.)

tax accounting (Tax accounting deals with the tax related matters of a business enterprise. It includes computation of taxable income and presentation of financial or other information to tax authorities required by tax laws and regulations of a country.)