Accounting Areas that Students Should Know
October 24, 2012
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Accounting degree programs could help you learn the skills you need to pursue opportunities in the accounting field. But what exactly are the types of fields in the accounting industry?
Knowing the possible contexts available in accounting could help you get a better idea of how accounting skills and knowledge are applied. These areas could also enlighten you on the many facets of accounting, and it’s useful to understand how the concepts you learn in class have crucial roles outside of the classroom.
Below are some of the major areas of accounting.
Government Accounting—government accounting functions at multiple levels within the government and typically requires a variety of accounting practices, such as budgeting.
Corporation Accounting—takes place within a corporation. Corporation accounting may hold its own department within a company to do auditing, taxes, and more.
Independent or Private Accounting—independent accounting firms consist of accountants who have opted to be self-employed rather than part of a firm or corporation.
Internal Auditing—internal auditing is a specialized form of accounting performed within an organization to ensure that finances are being managed properly. Auditing can protect companies because it checks for fraud as well as wasted resources.
Management Accounting—a type of internal accounting used in businesses to arm management with accounting information that can help them move forward. Management accounting information is reserved for the management and focuses on the future.
Public Accounting—public accounting consists of accounting partners who work together in firms, meaning that accountants either own or work for the firm. These firms may do accounting work for separate entities including businesses, the government, and individuals.
Interested in learning more about the accounting field? Pursue an accounting degree program that could help you build your knowledge and skills.