Remove Cost Accounting Remove Financial Accounting Remove Management Accounting
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Types of accounting

Accounting Tools

Accountants tend to specialize in one of these fields, which leads to the different career tracks noted below. Financial Accounting Those in the financial accounting field are concerned with the aggregation of financial information into external reports.

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What is accountancy?

Accounting Tools

The information in the general ledger is used to derive financial statements , and may also be the source of some information used for internal management reports. Reporting The reporting aspects of accountancy are considerable, and so have been divided into smaller areas of specialization, which are noted below.

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Relevant cost definition

Accounting Tools

Also, by eliminating irrelevant costs from a decision, management is prevented from focusing on information that might otherwise incorrectly affect its decision.

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What is an accountant?

Accounting Tools

Areas of Accounting Specialization There are many sub-fields within accounting in which a person can specialize. For example, there are tax accountants , cost accountants , payroll clerks , billing clerks , general ledger accountants , and collection clerks.

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Cost structure definition

Accounting Tools

Related Courses Activity-Based Costing Cost Accounting Fundamentals Cost Management Guidebook What is Cost Structure? Cost structure refers to the types and relative proportions of fixed costs and variable costs that a business incurs.

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BONUS | Dennis Whitney - CMA Exam and Certification

IMA's Count Me

So if you want to go into public accounting, by all means I recommend that you get a CPA. But if you want to work inside an organization, for example, as a CFO, as a controller, as a senior financial accountant or senior management accountant, then by all means I recommend the CMA. It's really about planning.

CPA 40
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BONUS | Celebrating 100,000 CMAs

IMA's Count Me

IMA Website: [link] About the CMA Certification: [link] For nearly 50 years, the CMA® (Certified Management Accountant) certification has been the global benchmark for management accountants and financial professionals. Because CMAs can explain the "why" behind numbers, not just the "what." Margaret (01:08): Great.