Accounting is the analysis and interpretation of data. It may not be obvious to some, but for every business, and each person counts in some form. Individuals can consciously or unknowingly use bookkeeping when evaluating their financial data and forwarding results to others. Accounting is an indispensable tool in any business, it may be small or multinational.
The term "accounting" covers a variety of different accounting types based on the group or groups served. The following are the types of accounting.
first Private or Industrial Accounting: This type of accounting refers to accounting activities that are limited to only one business. It provides private employer skills and services to a single employer and receives salaries on employers 'and employees' basis. The private concept concerns the accountant and the accounting service. The term is used when the employer's relationship exists, even if the employer is a public-law firm.
2nd Public Accounting: Public Accounting reflects the accounting service provided by the public accountant to the general public. When a practitioner-client relationship exists, the accountant is called the accountant. Public adjustment can be considered much more professional than private register. Both certified and unqualified accountants can provide public library services. Certified accountants may be individual professionals or partnerships of between two or more hundred members. These accountancy companies include local, national and international customer loops.
3rd Government Accounting: Government Accounting refers to the accounting of a branch or government unit in any sector whether it be federal, state or local. Government accounting is very similar to traditional accounting methods. Both government and traditional accounting methods use double-entry systems for accounting and journals and accountants. The purpose of government accounting units is to provide the service rather than a gain. Since the profit motive can not be used as a benchmark for government units, other control measures should be developed. In order to increase control, the use of special funds is accounted for. Government units can use both private and public accountants the same way as any business entity.
4th Fiduciary Accounting: Confidentiality is part of the concept of trust. This type of settlement is for a trusted, administrator, executive or anyone who is in a trusted position. His job is to keep the records and make reports. This may be permitted under the jurisdiction of a court or under its jurisdiction. A fiduciary accountant must look for and check all the assets that are property or trust. The customary concept of customary accounting does not exist or is greatly altered in trust accounts.
5th National Income Accounting: The National Income Account uses the economic or social concept to establish accounting rather than the concept of the usual business entity. The accounting of national income is responsible for estimating the nation's annual purchasing power. GNP or gross national product is a related term that refers to the total market value of goods and services produced in a given period, usually within a calendar year, of all countries.
Source by sbobet