Auditing is an accounting practice that involves looking at financial records to ensure that they are accurate and comply with all relevant regulations.A tax accountant also ensures their employer or clients get all the deductions and credit that they are due. A tax accountant makes sure that a company’s or individual’s tax filings meet all IRS regulations. Tax accounting involves the preparation of tax documents.Management accounting involves creating reports and performing audits to help inform the strategic choices of executives and other decision-makers.In this career, you report your findings to legal teams or law enforcement agencies, and you may have to testify about your investigations in court. Forensic accounting is a specialty that involves investigating the finances of a company, individual or organization to look for irregularities.For example, an accountant could add up the total fixed and variable costs for the production of a single product to help company decision-makers and marketers settle on a reasonable price. Cost accounting involves calculating the overall cost of an operation for a company.A public accountant can provide a variety of services, such as payroll, tax preparation, auditing and income statement preparations. Public accounting is a specialty in which an accountant or accounting firm provides services to individuals or companies as a third party.The focus in this specialty is accountability, transparency, adherence to laws and determining the feasibility of social or political decisions. Governmental accounting involves using specific rules and practices to perform accounting services for federal, state and local governments and government agencies.It involves recording monetary transactions and data and creating reports, such as the income and cash flow statements. ![]()
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