Financial Accounting is the framework that dictates the rules, processes, and standards of financial recordkeeping. Corporations, Nonprofits, small businesses, and personnel use financial accounting to prepare their books and records and generate their financial reports and or statements.
Public Accounting refers to providing accounting to business owners and or nonprofit organizations, accounting expertise, auditing, and tax services to their clients. These services usually fall into one of the classifications noted below:
- Financial Statement Preparation
- Financial Statement Auditing
Corporate Accounting is a special kind of accounting meant for businesses to record and monitor money movement. It deals with analyzing, classifying, collecting, and presenting a company’s financial data. There are many different types of accounting-tax accounting, cost accounting, management accounting, and more. Corporate accounting is one of these branches that help create the big picture of how money moves.
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