Branches of Accounting

Encompasses the process of analyzing, classifying, summarizing and communicating all transactions including the receipt anf disposition of government funds and property, and interpreting the results thereof.

• Cost Accounting

• Management Accounting

• Government Accounting

• Tax Accounting

Includes the collection, determination, allocation, assessment, interpretation, and control of cost data, particularly the cost of production in a manufacturing concern

• Tax Accounting

• Cost Accounting

• Accounting Education

• Financial Accounting

The examination and review of accounting reports in order to ascertain their fairness, propriety and reliability

• Financial Accounting

• Auditing

• Accounting Research

• Budgeting

Deals with the activities which involves the recording and preparation of reports known as financial statements

• Financial Accounting

• Management Accounting

• Accounting Education

• Cost Accounting

Involves planned grading and formal teaching in an educational institution

• Government Accounting

• Accounting Research

• Accounting Education

• Cost Accounting

Government agency which renders services in preparing and collecting of taxes of individuals and businesses.

• DBM

• COA

• BTr

• BIR

Statement that shows the financial position or condition of an entity by listing the assets, liabilities and owner’s equity

• Balance Sheet

• Income Statement

• Accounting Sheet

• Accounting Titles

Include the preparation of monthly value added tax, percentage tax, expanded withholding tax returns, quarterly and annual tax returns and any other taxes applicable to business.

• Cost Accounting

• Tax Accounting

• Accounting Management

• Private Accounting

Government agencies tasked on all the transactions of government funds and properties.

• DBM

• BTr

• DOH

• DILG

All are elements of a balance sheet except:

• Asset

• Liabilities

• Owner's Equity

• Revenue