Business Accounting
 Financial Accounting-concerned
with the general purpose
financial statements including
consolidated financial
statements.
 Managerial Accounting-refers to
processing or preparation of
special-purpose financial reports
for management needs.
 Tax Accounting-based on the
enacted tax laws.
Not-for-Profit Accounting
 Government Accounting-process
of analyzing, recording,
classifying, summarizing and
communicating all transactions
involving state funds and
properties.
 Institutional Accounting-
accounting for non-profit entities.
Business Accounting
Branches of Accounting
 Financial Accounting-concerned
with the general purpose
Fiduciary Accounting
financial statements including
consolidated financial  Estate Accounting-handling of
statements. accounts for fiduciaries who wind
 Managerial Accounting-refers to up the affairs of a dead person.
processing or preparation of  Trust Accounting-held for the
special-purpose financial reports purpose contracted by the
for management needs. customer and its management.
 Tax Accounting-based on the  Receivership Accounting-handling
of accounts for a fiduciary
enacted tax laws.
appointed to take charge of a
financially unstable business
Auditing pending its disposition or the
attainment of an imposed
 External Auditing-independent objective.
examination intended to support
the expression of an impartial
expert opinion on the fairness of Not-for-Profit Accounting
the financial statements.
 Government Accounting-process
 Internal Auditing-an independent,
of analyzing, recording,
objective assurance and
classifying, summarizing and
consulting activity designed to
communicating all transactions
add value and improve and
involving state funds and
organization’s operations.
properties.
 Institutional Accounting-
accounting for non-profit entities.
Garbo, Sheila Marie A. BSMA 2 AC 503 MWF 10:30-12:30 June

Garbo, Sheila Marie A. BSMA 2 AC 503 MWF 10:30-12:30 June