What are the different branches or types of accounting?
Accounting is the backbone of any business, as we all know. A company would not be able to thrive or expand without accounting. Accounting unifies all of an organization's financial operations, promoting responsibility and order. With time, new accounting disciplines and branches emerged, even if the foundations haven't altered for a long time. Thanks to technological advancements, report compilation, and transaction recording have developed, and many other new tasks, such as data input and report creation, have appeared. To get a full picture of a company's financial health, accounting is still used. Diverse accounting specializations and niches have developed as a consequence of the numerous advances in finance, industry, and technology Branches of Accounting: Financial Accounting Management Accounting Cost Accounting Tax Accounting Auditing Forensic Accounting Fiduciary Accounting Fund Accounting Social Accounting Financial Accounting: Financial accounting is a branch