Accounting and accountancy Contents

Accounting and accountancy

Contents

• The definition of accounting
• Types of accounting
• Auditing
• Laws, rules and standards
• Conclusion

The definition of accounting

Recording and summarizing an organization`s transactions

Types of accounting

• Bookkeeping
• Financial accounting
• Management accounting

Auditing

Examining a company`s systems of control

Types of auditing

• internal audit
• external audit

Laws, rules and standards

• laws – in European countries
• rules – in the USA
• standards – in UK

Conclusion

Accounting needs for evaluation the financial situation and control of the company`s current activity

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