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=== Accounting by Type ===
 
=== Accounting by Type ===
*[[Financial Accounting]] - Focused on the creation and application of accounting principles that are generally accepted for business enterprises, not-for-profit organizations, and governmental entities.
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*[[Financial Accounting]] - Focused on maintaining financial records [[book keeping|(book keeping]]) and reporting of historical financial results of the enterprise based on these records. Where these reports or [http://accounting.wikia.com/index.php?title=financial_statements&action=edit&redlink=1 financial statements] are aimed at external users of the accounts, they should be prepared in prescribed formats, based on generally accepted [http://accounting.wikia.com/index.php?title=accounting_principles&action=edit&redlink=1 accounting principles] and conform to [http://accounting.wikia.com/index.php?title=accounting_standards&action=edit&redlink=1 accounting standards] that are prepared by national or international accounting bodies, and may need to be externally [http://accounting.wikia.com/index.php?title=audit&action=edit&redlink=1 audited]..
*[[Cost Accounting or Managerial Accounting]] - tracks and analyses the cost of products and activities engaged in by a company or other entity. Primarily for internal use.
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*[http://accounting.wikia.com/index.php?title=Management_Accounting&action=edit&redlink=1 Management Accounting] - prepares and analyses financial information primarily for internal use. It includes financial planning (especially [http://accounting.wikia.com/index.php?title=budget&action=edit&redlink=1 budget] preparation and reporting), and [[Cost Accounting]] (which tracks and analyses the cost of products and activities engaged in by the organisation).
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*[[Financial Management]] - concerned with financial decision making, including choosing sources of capital and investment decisions.
 
*[[Tax and Regulation]] - Refer to the knowledge of taxation, ethics, professional and legal responsibilities, and business law.
 
*[[Tax and Regulation]] - Refer to the knowledge of taxation, ethics, professional and legal responsibilities, and business law.
   

Revision as of 15:59, September 2, 2009

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Accounting

Accounting is the process by which financial information about a business is recorded, classified, summarized, interpreted, and communicated to person who require that information.

The accounting Wikia is for any content related to accounting that does not fit within the accounting category at Wikipedia.

Accounting by Type

  • Financial Accounting - Focused on maintaining financial records (book keeping) and reporting of historical financial results of the enterprise based on these records. Where these reports or financial statements are aimed at external users of the accounts, they should be prepared in prescribed formats, based on generally accepted accounting principles and conform to accounting standards that are prepared by national or international accounting bodies, and may need to be externally audited..
  • Management Accounting - prepares and analyses financial information primarily for internal use. It includes financial planning (especially budget preparation and reporting), and Cost Accounting (which tracks and analyses the cost of products and activities engaged in by the organisation).
  • Financial Management - concerned with financial decision making, including choosing sources of capital and investment decisions.
  • Tax and Regulation - Refer to the knowledge of taxation, ethics, professional and legal responsibilities, and business law.


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See Also

The Wikia finance category for related wikis.

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