Big Types of Accounting

In this article we will explain one by one the most important types of accounting. In this way we will try to answer the recurring question. Rise school is Best School of Accountancy in Lahore.CA admissions in Lahore now open. The best School of Accountancy in Pakistan offers CA in Lahore and Best CA in Pakistan . "How many types of accounting do you have? What types of accounting are in a company? " Financial Accounting Tax accounting Accounting Management Cost accounting Administrative accounting Accounting by Activities Service accounting Public accounting

This type of accounting arises from the need to present financial statements to third parties, such as investors , shareholders or public bodies. There is also a need for the information presented to be homogeneous and standardized. That is why this type of accounting focuses on the preparation of financial statements for third parties and not so much for business management. Today, with the facilities provided by new computer systems, information for decision-making and information for third parties are obtained both thanks to a unique and integrated accounting system . Financial accounting is used mainly to obtain in a structured and systematic way quantitative information expressed in monetary units. Financial accounting shows a broad picture of the situation of the company through the balance sheet and the balance of profit losses. However, it does not provide the cost accounting data that could cause the company's know-how to be copied. In summary finan...

Tax accounting is a type of accounting that is based on the fiscal criteria established by the laws of each country. They define how tax accounting should be performed. Obviously, tax accounting is extremely important for accountants and businessmen, since this type of accounting is what regulates how to prepare the records and reports on which will depend the amount of taxes to pay.Rise school is Best School of Accountancy in Lahore.CA admissions in Lahore now open. The best School of Accountancy in Pakistan offers CA in Lahore and Best CA in Pakistan. It is vitally important to note that there are huge differences between accounting principles and financial laws. Financial accounting sometimes has no resemblance to fiscal accounting, but this should not be an impediment to managing the two types of accounting in parallel. Within the types of Accounting the Fiscal accounting is the one that refers to the accounting of the subjects related to the taxes. It is governed...

Management (internal) management accounting is the type of accounting that contrasts with (external) financial accounting. To be able to go deeper we will begin by reviewing birth and evolution over the years. If we take into account the research of Robert Kaplan, Accounting Management was born as a type of accounting in the early nineteenth century because of the increasing complexity in organizations or companies. At the beginning of century XX appear the first integrated companies like for example Du Pont Powder Company . In this case the Du Pont executives invented the return-on-investment formula that gives a success coefficient to each department of the company. The usefulness of this new strategy was in particular for the high positions since in this way decisions could be made of an easier form although it increased the number of operative units of the company Accounting Management is within the types of accounting that produces information primarily for internal ...

Cost accounting is in relation to accounting types which is responsible for sorting and collecting information on the current costs that are generated in a company. Rise school is Best School of Accountancy in Lahore.CA admissions in Lahore now open. The best School of Accountancy in Pakistan offers CA in Lahore and Best CA in Pakistan . Within the cost accounting are grouped the design treatment and management of costs. Cost accounting can be focused on departmental activities regions or products. In the same way, cost accounting deals with managing the expected and desired future costs. Cost accounting categorizes by following behavioral patterns, activities and processes in which the costs are linked to the products and their categories. Taking into account the type of system that is used, the information collected will be written reports on the manufacture of products and services. These reports help management make decisions. The three most common models of...