Rules on Changing, Deleting or Inactivating Accounts Homework Help
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What is accounting?
Accounting is the processing of the financial information for a business throughout a limited period of time. Accounting of any type of business is done by some common accounting organizations. They are standard-setters, accounting firms and last but not the least, professional bodies. These are the basic information that you should know before Changing, deleting or inactivating accounts Assignment Help.
Various fields of accounting:
Accountancy is divided into various sub-fields.
1. Financial accounting:
Financial accounting focuses on the total financial information of any business. It acquires the information then processes them and creates a balance sheet with a financial statement where the total amount of income is adjusted with the total amount of expenses. It calculates the profit in this way and this information is circulated between the external users like investors, suppliers etc.
2. Management accounting:
The management accounting focuses on the managerial department where a balance sheet is created on the measurement and processing of the financial information which is basically used in the management of the business. It helps in the future strategy of the business.
Auditing is a sub division of the management accounting where the recording of all the financial transactions are done to prepare a summary for the balance sheet.
4. Tax accounting:
Tax accounting generally follows all the rules and regulations of the tax law and help in the financial accounting legally.
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