Grade-11 FABM 1: Seatwork

This branch of accounting monitors the flow of funds between different departments and makes sure that spending plans are adhered to.

• Government Accounting

• Accounting Education

• Accounting Research

• Auditing

 This branch of accounting helps to  understand complex accounting principles and how they relate to everyday business transactions.

• Government Accounting

• Accounting Research

• Accounting Education

• Auditing

This branch reports on the effect of taxes on a business and may offer advisory services on minimizing taxes or the consequences of tax decisions.

• Tax Accounting

• Auditing

• Government accounting

• Finance Accounting

hey may test the company's segregation of duties, policies, authorizations and other management controls for efficacy and integrity

• External Auditors

• Internal Auditors

• Managers

• Owners

This examines and monitors a business for accurate reporting, compliance with tax laws and regulations, and financial integrity.

• Tax Accounting

• Auditing

• Finance Accounting

• Government Accounting

This is a private business, organization or farm that a group of individuals owns and runs to meet a common goal. Exist in the retail, service, production and housing industries

• Sole Proprietorship

• Partnership

• Corporation

• Cooperatives

This is an entity in business that functions independently of its stockholders.

• Partnership

• Sole Proprietorship

• Corporation

• Cooperatives

Who are the Internal users of  Accounting?

• Owners

• Managers

• Employees

• General Public

This is the direct sale of products and services to users or final consumers.

• Manufacturing

• Merchandising

• Trading

• Service

The information about the company’s cash outflows and inflows can be seen in what statement?

• Statement of Financial Position

• Statement of Cash Flows

• Income Statement

• Statement of changes in equity