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What is the CPA Exam? A complete guide.

Intuit

Financial Accounting and Reporting (FAR): This material covers financial statements, local and state government regulation, and other key financial reporting concepts. Taxation and Regulation (REG): Business law, federal taxes, ethics, and legal and professional responsibilities all fall under this section.

CPA 130
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Types of accounting

Accounting Tools

There are several types of accounting that range from auditing to the preparation of tax returns. Accountants tend to specialize in one of these fields, which leads to the different career tracks noted below. There are several career tracks involved in financial accounting.

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Types of accounting functions

Accounting Tools

Related Courses Bookkeeping Guidebook CFO Guidebook New Controller Guidebook There are several types of functions fulfilled by the accounting department within a business. These accounting functions are noted below. The group can also engage in tax planning, with the intent of deferring or eliminating tax payments.

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What is an accountant?

Accounting Tools

Tax reports are issued to several government entities. The reports provide detail regarding the amounts paid for income taxes , property taxes, sales taxes , use taxes , and so forth. Areas of Accounting Specialization There are many sub-fields within accounting in which a person can specialize.

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What is accountancy?

Accounting Tools

There are also a number of business transactions that are non-repetitive in nature, and so require the use of journal entries to record them in the accounting records. The fixed asset accountant , general ledger clerk , and tax accountant are most likely to be involved in the use of journal entries.

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Cost structure definition

Accounting Tools

Thus, the cost structure concept is a management accounting concept; it has no applicability to financial accounting. Staff wages , bonuses, payroll taxes , travel and entertainment Product line cost structure Fixed costs. Administrative overhead Variable costs.

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Unlock Success: Master the Best Accounting Practices Today

Nanonets

Effective and efficient accounting strategies provide accurate financial information, facilitate informed decision-making, ensure compliance with regulations, and build investor trust. These types of accounting play crucial roles in providing businesses with accurate financial information and assisting in making informed decisions.