A C C O U N T I N G
Accounting/Tax
A summarising term commonly used by the accounting profession to encompass the function of entering information relating to transactions into the account records for classification, followed by the preparation of taxation returns as required by legislation.
Management Accounting
A term used to describe the gathering, classification and presentation of information for the use of managers for the purpose decision making.
Financial Accounting
A term used to describe the recording and presentation of information to show the financial (monetary) position and/or trends of an undertaking.
Statutory Accounts
Being summaries of information and records presented in accordance with the requirements of various laws or statutes.
Branch Accounting
Being a type of management accounting prepared to reflect an accurate record of the results of the operation of a branch. Normally prepared for management consideration and decision making purposes.
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