FABM1

is an association of Certified Public Accountants engaged in the various fields of accounting.

the accountant performs or offers to perform any activity that will result to the issuance of an attest report that is in accordance with professional standards

the accountant performs or offers to perform any activity that will result to the issuance of an attest report that is in accordance with professional standards

public accountants examine the financial statements in order to express an opinion on whether statements have been fairly presented or not.

In this branch of public accounting, the accountant is a tax specialist. He or she is expected to be knowledgeable about revenue regulations and tax laws. He or she also represents the client in any tax-related case filed by the Bureau of Internal Revenue (BIR)

Management consulting is an area in public accounting that involves financial planning and control, and the development of accounting and computer systems. The accountant advises management on matters such as the installation of an accounting system, finance, budgeting, business processes, introduction of new products, and other business activities.

involves setting up systems of recording business transactions that are aggregated into financial statements. It includes the development and interpretation of accounting information intended to assist management in operating business.

is a salaried employee who deals with the company’s day-to-day accounting needs. He/she is trained in the processing of accounting transactions such as billings and account payables. His or her knowledge may be limited to the areas of accounting for which they are responsible.

This branch of private accounting provides economic and financial information for investors, creditors, and other external users. It uses a system of reporting designed to meet the information needs of external users. Financial accounting is governed by an established body of standards and principles. It focuses on the recording and classifying of business transactions while applying Generally Accepted Accounting Principles (GAAP).

focuses on accumulating manufacturing costs for financial reporting and decision-making purposes. It covers the reporting of financial information relevant to manufacturing operations. It provides management with the necessary tools and information for planning and controlling activities. The primarily role of a cost accountant is to determine the inventory cost for financial reporting purposes.