Senior Accountant Interview Question:

Explain what are the different branches of accounting?

Submitted by: Muhammad

Financial accounting refers to accounting for revenues, expenses, assets, and liabilities. It involves the basic accounting processes of recording, classifying, and summarizing transactions.

☛ Cost accounting is the branch of accounting dealing with the recording, classification, allocation, and reporting of current and prospective costs.

☛ Managerial accounting is the branch of accounting designed to provide information to various management levels in the hospitality operation for enhancing controls.
Submitted by: Muhammad