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What are the services provided by accountants and categories of accountants?

In general, accounting is the process which is used to keep business finances. People who have maintained the business and financial transactions in the company and they are called accountants. They are communicating financial information with business managers and shareholders. Some of the main divisions in accounting and they are bookkeeping and auditing. Accounting is one kind of subject which is analyzing and recording financial transactions. Maintaining accounts can be simple with regular updated records.


It is the process of recording all financial transactions. The bookkeepers should be very careful to record transactions with efficient manner. They can assist to the accountants. The bookkeepers and accountants will satisfy your business needs in various ways such as,
  • Financial reporting,
  • Tax analysis,
  • Projection,
  • Managerial and
  • Tax reporting.
Accounting can be considered as the language of business. It offers a lot of beneficial business transaction information to business management. Accountants should follow a wide range of rules and regulations to analyze the financial performance. The equation of accounting is assets = equity + liabilities. Accounting is one kind of art to summarize and report transactions in organizations. There are five different types of accounts available. If you enter a finance transaction, you should choose a proper type of accounts. Financial accounting is slightly different from cost accounting.

Financial accounting

Financial accounting is the process of preparing the statement of financial in an organization and it is used to know that whether the company got profit or loss. The financial statements are well organized by accountants. The main purpose of financial accounting is to know and examine the expenses and income status of the month. In financial accountants, the financial statements are based on the principles of accounting.

Cost accounting

Cost accounting is the process of improving the profit and reducing the expenses of an organization. Cost accounting does not include any accounting principles. This process includes some managerial accounting ways such as resource accounting, managerial costing, standard cost accounting and activity based costing.

Purpose of accounting

Accounting is very essential to track the transactions. If you want to mange your business properly, you should choose a great accountant. In modern days, the accounting software is used to keep your business operations. Accounting can be handled by many people who are auditors, claims adjustors, financial analysts, tax lawyers, stock brokers and many more. Accounting people are highly demand in the competitive business world. Good accounting is necessary to maintain financially healthy in an organization. Accountants analyze, summarize and verify your financial data easily and properly. Generally, accountants can be categorized into four different categories such as,
  • Public accountants,
  • Managerial accountants,
  • Government accountants and
  • Internal auditors
The public accountants are specialized in financial audit services. Managerial accountants should analyze your financial information in business. The government accountants perform auditing services to the government and internal auditors work to help within organizations. In these days, there are many online business degree programs available on the internet. It helps to learn accounting and related degree programs while you are working. It helps to get a higher place in your working place.

Accounting is an information system:- Accounting is an information system that represents the economic resources and responsibilities of business or non-business enterprises. Monitored over time, it is used as a decision-making tool for the allocation of resources and evaluation of responsibilities.

Impact of Accounting Information:- Accounting information impacts major economic decisions, which can have both national and global impact. The accounting program teaches analytical, theoretical, communication, and leadership skills necessary for effective accounting and for advancement in public, private, and government careers.

Significant Points about Accounting & Job
Bookkeeping, accounting, and auditing clerks held more than 2.1 million jobs in 2006 and are employed in every industry. Employment in Accounting field is projected to grow as fast as the average as nearly every industries looking for skilled accounting workers or professionals. The large size of this occupation ensures plentiful job openings, including many opportunities for temporary and part-time work.

Nature of Work:-
Bookkeeping, accounting, and auditing clerks are financial record keepers. They update and maintain accounting records, including those which calculate expenditures, receipts, accounts payable and receivable, and profit and loss.

Responsibilities of Work:- Accounting information impacts major economic/financial decisions. In small businesses, bookkeepers and bookkeeping clerks often have responsibility for some or all of the accounts, known as the general ledger. They record all transactions and post debits (costs) and credits (income). In large-companiesí accounting departments, accounting clerks have more specialized tasks.

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