What are the branches of accounting?

Question: What are the branches of accounting?

Accounting is a broad field that can be divided into several branches. The main branches of accounting include financial accounting, management accounting, tax accounting, and auditing. Financial accounting involves the preparation and reporting of financial statements for external users, such as investors, creditors, and regulators. Management accounting, on the other hand, focuses on providing financial information to internal users, such as managers and executives, to support decision-making and strategic planning. Tax accounting involves the preparation and filing of tax returns, while auditing involves the independent examination and verification of financial statements to ensure accuracy and compliance with accounting standards and regulations. Other branches of accounting include cost accounting, forensic accounting, and environmental accounting.

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