This is important to learn about different accounting branches. There are following 9 important branches of Accounting: 1. Financial Accounting 2. Cost Accounting 3. Management Accounting 4. Auditing 5. Tax Accounting 6. Fund Accounting 7. Government Accounting 8. Forensic Accounting 9. Fiduciary Accounting
Importance of Accountancy in the Business Types of Business Concerns: 1. Sole Proprietorship 2. Partnership 3. Limited Liability Company Further, the Business Might be Either: – a trading concern – a manufacturing concern – a service concern – or a mix of Financial Transaction: Any economic activity where the finance/money is involved. Financial Accounting: The…