Accounting Field Defined

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Accounting Field Defined

Financial accounting involves the financial transactions of a company. Cost accounting (managerial accounting) involves job costs, cost analysis, and costs involved in making a profit (to put it very simply). Cost accounting is considered a specialized form of accounting. Tax accounting is another specialized form of accounting. It is involved with the tax consequences of transactions upon a company (very simply put again). The accounting job description of your choice may vary according to type of accounting, entity, and position. Positions in financial accounting consist reconciling accounts to the financial statements; preparing opening, adjusting, and closing entries; preparing financial statements. Most financial accounting personnel report to the Department Head. If you have questions that are industry specific a staffing agency like AccountPros is a great resource.



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