Accounting is the process of recording, classifying and summarising financial transactions to provide information that is useful in making business decisions. It involves the preparation of financial statements, such as income statements, balance sheets and cash flow statements to provide information about the financial performance and position of an organisation.
Public Accountant
Public accountants work for public accounting firms and provide a range of financial services to clients. This may include auditing financial statements, preparing tax returns, and offering consulting services. Public accountants often work with a diverse clientele, including individuals, businesses, and government agencies.
Management Accountant (Cost, Management, or Corporate Accountant)
Management accountants work within organisations, helping them make strategic financial decisions. They are involved in budgeting, cost analysis, and performance evaluation. These professionals provide crucial financial information to management, aiding in planning and decision-making. Management accountants may also be responsible for internal auditing and compliance.
Forensic Accountant
Forensic accountants specialize in investigating financial discrepancies and fraud. They analyze financial records, transactions, and other data to uncover fraudulent activities. Forensic accountants often work with law enforcement agencies, government organizations, or private firms. Their findings may be used in legal proceedings, and they may also provide expert testimony in court.