Accounting Essay

Accounting Essay Help

Branches of Accounting
In accounting, there are several branches which are used for numerous purposes. Particularly, there are six most common branches of accounting. The branches of accounting are Management Accounting, Fund Accounting, Tax Accounting, Auditing, Financial Accounting, and Forensic Accounting. All these branches have played an essential role in the business. Accounting procedures creates the transparency in the business. In addition, all these branches of accounting are discussed below in the given manner:

Management Accounting

Fund Accounting
A large number of non-profit organizations that include Human Welfare Organizations or NGO’s are used this branch of accounting. In order to record their revenues as well as expenditures, the non-profit organizations hire fund accountants. These accountants use their knowledge to maintain financial accounts of non-profit organization. Get your A grade Accounting Assignment Help and Accounting Homework Help from us. Fund accountants are responsible to record the earning and spending, compose the financial statement on monthly, quarterly, semiannually, or annually basis, and formulate the NAV (Net Asset Value) on a regular basis.

Tax Accounting
Tax accounting is mainly followed by the government and regulation authorities. This type of accounting is generally focuses on the process of tax collection. The process to record the tax amount is paid by the companies, businesses or individuals, etc. is called as the tax accounting. Each country has its own procedures or tax ratios for the individuals or companies. The essential difference between the financial accounting and tax accounting is that tax accounting comprises on the laws of tax collections; whereas the financial accounting is based upon the operating activities of a business. Hire us for A grade Accounting Assignment Help and Accounting Homework Help.