Question

what are the main branch of accounting? explain the relevance and importance of accounting.

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Answer 1

Explanation:

HEY MATE. ........

Branch accounting is a bookkeeping system in which separate accounts are maintained for each branch or operating location of an organization.

Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.

Relevance requires that accounting information is capable of affecting decisions made by its users. This relates to timeliness, comparability, and understandability.