BRANCHES OF ACCOUNTING

PROFESSION
Body of knowledge that can be
learned through formal education
and with standards of conduct higher
than those imposed by law.
 BRANCHES OF ACCOUNTING
GOVERNMENT ACCOUNTING
COMMERCE AND INDUSTRY

EDUCATION/ACADEME

PUBLIC/INDEPENDENT
ACCOUTING
1. Financial accounting involves
recording and classifying business
transactions, and preparing and
presenting financial statements to
be used by internal and external
users.
2. Managerial or management
accounting focuses on providing
information for use by internal
users, the management;
C1 Importance of Accounting

is a
Accounting Identifies
system that

Records

information
Relevant Communicates
that is

Reliable
to help users make
Comparable better decisions.

1-6
3. Cost accounting refers to the
recording, presentation, and
analysis of manufacturing costs.

It determines future courses of

action regarding the company's
operations.
 4. AUDITING
- The examination and review of
accounting reports in order to
ascertain their fairness, propriety
and reliability.
4. Auditing
External auditing refers to the
examination of financial statements with
the purpose of expressing an opinion as
to fairness of presentation and
compliance with GAAP.

Internal auditing focuses on evaluating

the adequacy of a company's internal
control structure
5. Tax Accounting
involves determination of income tax
and other taxes, tax advisory services
such as ways to minimize taxes legally,
evaluation of the consequences of tax
decisions, and other tax-related matters
6. Government accounting is the
process of recording, analyzing,
classifying, summarizing communicating
and interpreting financial information
about government in aggregate and in
detail reflecting transactions and other
economic events involving the receipt,
spending, transfer, usability and
disposition of assets.
7. ACCOUNTING EDUCATION

- planned grading and formal

teaching in an educational
institution.
8. ACCOUNTING RESEARCH

- Conducting careful and diligent study

aimed at discovering and interpreting
facts, revising accepted theories in the
light of new facts, or the practical
application for the generation of new
knowledge.
 BRANCHES OF ACCOUNTING
1. FINANCIAL ACCOUNTING
2. MANAGEMENT ACCOUNTING
3. GOVERNMENT ACCOUNTING
4. AUDITING
5. TAX ACCOUNTING
6. COST ACCOUNTING
7. ACCOUNTING EDUCATION
8. ACCOUNTING RESEARCH
 CHECK UP
 BRANCHES OF ACCOUNTING
CPA REVEWER EDUCATION/ACADEME
BANK COMMERCE AND INDUSTRY
EXAMINER
BIR EXAMINER GOVERNMENT
TAX PUBLIC/INDEPENDENT
CONSULTANT ACCOUTING
BRANCHES OF ACCOUNTING
 1. Which branch of
accounting is involved
in reviewing and
evaluating
documents, records,
and control systems?
It may be internal or
external.
AUDITING
 2. Which branch of
accounting is designed to
provide information to
various management
levels for the purpose of
enhancing controls and
decision making?

MANAGERIAL ACCOUNTING
 3. It involves the basic
accounting processes of
recording,
classifying, and
summarizing transactions

FINANCIAL ACCOUNTING
 4. Which branch of
accounting deals with
the recording,
classification, allocation,
and reporting of current
and prospective costs of
manufacturing company.

COST ACCOUNTING
 Which branch of
accounting relates to the
preparation and filing of
forms with planning to
minimize payments due
to the government?

TAX ACCOUNTING
It involves recording and
classifying business
transactions, and preparing
and presenting financial
statements to be used
by internal and external users.
It focuses on providing
information for use by internal
users, the management;
It refers to the recording,
presentation, and analysis
of manufacturing costs.
It refers to the examination of
financial statements with the
purpose of expressing an opinion
as to fairness of presentation
and
- The examination and review of
accounting reports in order to
ascertain their fairness,
propriety and reliability.
It involves determination of
how much businesses have to
pay what is due to the
government and other related
matter.
It is the process accounting
about the government in
aggregate and in detail
reflecting transactions and
other economic events involving
the receipt, spending, transfer,
usability and disposition of
assets.
 It is the planned grading and
formal teaching in an educational
institution.
 Conducting careful and diligent
study aimed at discovering and
interpreting facts, revising
accepted theories in the light of
new facts, or the practical
application for the generation of
new knowledge.