What are the different branches of accounting?

May 19th, 2015
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There are five types of branch of accounting 1. Financial Accounting 2. Management Accounting 3. Cost Account 4 Human Resource Accounting 5 Social Responsibility Accounting

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What is the definition of accounting?The systematic recording, reporting, and analysis of financial transactions of a business. The person in charge of accounting is known as an accountantWhat are the different branches of accounting?There are five types of branch of accounting1. Financial Accounting2. Management Accounting3. Cost Account4 Human Resource Accounting 5 Social Responsibility AccountingWhat is Bank Reconciliation Statement?A Bank reconciliation statements are prepared if balance of bank account as shown in cashbook differs from balance as shown in passbook. This statement shows the reasons or transactions because of which balances as shown in cashbook and passbook are not tallying with each other.Why accounting standards needed?Accounting standards are necessary to promote high quality financial reporting. The fundamental role of accounting is to communicate economic information about businesses and other organization to various stakeholders including government, investors, shareholders, suppliers, lenders, customers, and the public. These stakeholders use such information to take decisions and to assess the stewardship of people appointed to manage su

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