Types of Accounting Flashcards
1
Q
Writing down the details of transactions
A
Bookkeeping
2
Q
Keeping financial records, recording, income and expenditure, and valuing assets and liabilities
A
Accounting
3
Q
Disguise the true financial position of a company
A
Creative accounting
4
Q
Preparing budgets and other financial records necessary for management
A
Managerial accounting
5
Q
Working out, the unit cost of products, including materials, labor, and all other expenses
A
Cost accounting
6
Q
Calculating an individuals or companies liability for tax
A
Tax accounting
7
Q
Inspection and evaluation of accounts by a second set of accountants
A
Auditing
