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Sub Fields of Accounting

Accounting is a broad expression and includes many other subfields under it. However, the sub-fields consist of financial accounting, human resource accounting, cost accounting, management accounting and social responsibility accounting. Let us take them in brief: Financial Accounting Financial accounting to a great extent worries about the planning and elucidation of financial statements and records … Read moreSub Fields of Accounting

What is Accounting?

Accounting shows the monetary position of a business at any point in time to any individual. Further, accounting helps in translating the workings of a firm into reports for analyzing it. Meaning of Accounting Accounting is the process of recording, classifying, summarizing, reporting and analyzing the data related to the monetary transactions. To understand the … Read moreWhat is Accounting?