Types of accounting: Learn about the different branches

Learn about the different branches of accounting and their specializations, such as financial, managerial, cost, auditing, tax, and forensic accounting. Find out how to obtain accounting certifications and explore the areas of accounting practice. Discover the different types of accounting, how they work, the benefits of knowing them, and how to choose the best one for your business. Accounting branches are types of accounting practices to record, measure, and analyze financial and non-financial data of a business. Each accounting branch deals with specific accounting practices. The aim of these branches is to record the information and then make it presentable to different stakeholders of an entity. The importance of accounting in a business organisation is unparallel to anything. This process keeps track of your company's financial health and reliability. Using a suitable accounting type, a company can analyse the records of its financial transactions. So, it can determine the costs incurred and profit earned through appropriate accounting procedures. The following sections include various types of accounting and their importance in drawing a clear conclusion about their benefits.