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Mind Map chapter 17, The accounting Cycle, Types of accounting, Accounting…
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Types of accounting
Managerial Accounting
Accounting used to provide information and analyses to managers inside the organization to assist them in decision making
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Tax accounting
An accountant trained in tax and law and responsible for preparing tax returns or developing tax strategies
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Accounting
The recording, classifying, summarizing and interpreting of financial events and transactions to provide management and other ineterested parties the information they need to make good decisions
Balance Sheet
Financial statement that reports a firms financial condition at a specific time and its composed of three major accounts assets, liabilities and owners equity.
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