Branches of Accounting

It is presentation of accounting data primarily for management who are considered the internal users. The special reports will assist managers in planning, directing and controlling the operation of the business as well as in managing enterprise resources.

• Financial Accounting

• Management Accounting

• Government Accounting

• Auditing

Which of the following statement is not true?

• A non-accounting graduate may work as a bookkeeper or accountant of a business enterprise.

• A non-CPA may be engaged in public accounting.

• A non-CPA may be the chief accountant of a business enterprise.

• To be a good accountant, one must have mastery of mathematics.

It deals with recording, classifying and summarizing the details of materials, labor and overhead necessary to produce and sell product or service.

• Financial Accounting

• Government Accounting

• Cost Accounting

• Auditing

Public Accounting, as a sub-discipline of accounting, includes:

• Managerial Advisory Services

• Cost Accounting

• Internal Auditing

• Management Accounting

It is the process of recording and classifying business financial transactions (activities). Maintaining the records of the financial activities of a business or individual.

• Analyzing

• Accounting

• Taxation

• Bookkeeping

A person with knowledge of accounting, who does the routine work of recording, classifying, and summarizing phases of accounting.

• Controller

• Management Consultant

• Bookkeeper

• Tax Accountant

One of the branches of Accounting where it deals with determining the costs of products, processes, projects, etc. in order to report the correct amounts on the financial statements; and assisting management in making decisions and in planning control of an organization.

• Auditing

• Tax Accounting

• Accounting Education

• Cost Accounting

Deals with independent verification and examination of the accounting records for the purpose of giving an opinion on the fairness of its presentation.

• Fund Accounting

• Financial Accounting

• Owners or Managers

• Auditing

A person who is responsible for the formation and molding the mind of competitive accountants and consultants.

• Auditor

• Accounting Professor

• Government Accounting

• Bookkeeper

A government agency in charge of regulating and licensing the practices of profession like accounting, medicine, engineering, nursing and the like.

• PRC (Professional Regulation Commission)

• PICPA (Philippine Institute of Certified Public Accountant)

• BOA-BOARD (Board of Accountancy)

• AS (International Accounting Standard)