Accountants no longer sit at a table with a 10-key adding machine, tallying numbers. They have a variety of careers to choice from in this interesting and challenging profession.
Different Types of Accounting
There are differences in financial accounting and tax accounting. Financial accounting is concerned with the results of audits, along with the profit and loss sheets of businesses. These accountants help investors and creditors decide where to put their capital. Besides helping with investment portfolios, financial accountants also help people plan for their retirement. In contrast, tax accounting is a specialized field that deals with business and personal income taxes, state and local taxes and the ever changing tax laws (http://mdhs.haltonbe.on.ca/Business/Accounting/modules1/acunit1.html).
Tax accounting can be divided into three segments which include public accounting, private or corporate accounting and government accounting.
Public accounting deals with individual income taxes. Private or corporate accounting advises businesses on their income taxes after...
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