{"id":8697,"date":"2013-02-28T10:09:03","date_gmt":"2013-02-28T10:09:03","guid":{"rendered":"http:\/\/vskills.in\/certification\/tutorial\/?p=8697"},"modified":"2024-04-12T14:14:27","modified_gmt":"2024-04-12T08:44:27","slug":"branches-of-accounting-2","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/","title":{"rendered":"Business Accountant Tutorial | Branches of Accounting"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a ref=\"magnificPopup\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5.png\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"400\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5.png\" alt=\"Branches of Accounting topic details\" class=\"wp-image-92093\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5.png 750w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5-300x160.png 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/a><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Branches of Accounting<\/strong><\/h3>\n\n\n\n<p>Let&#8217;s learn about the branches of accounting. Mainly accounting has three branches. The one branch is co-related to other branches, No one branch can work independently. The performance of one branch is dependent on others.<\/p>\n\n\n\n<p><strong>Financial Accounting:\u00a0<\/strong>This branch of accounting is concerned only with the financial affair and financial result of the company. Financial accounting is the process of recording, summarizing and reporting a company&#8217;s business transactions through financial statements. These statements are the income statement, the balance sheet, the cash flow statement and the statement of retained earnings.<\/p>\n\n\n\n<p><strong>Cost Accounting:\u00a0<\/strong> This branch basically deals with the cost concept of accounting, the objective of this branch is to analyze the expenditure involved in the manufacturing of various products and to fix their prices. Cost accounting\u00a0is a form of managerial\u00a0accounting\u00a0that aims to capture a company&#8217;s total\u00a0cost\u00a0of production by assessing the variable\u00a0costs\u00a0of each step of production as well as fixed\u00a0costs, such as a lease expense<\/p>\n\n\n\n<p><strong>Management Accounting:<\/strong> This&nbsp;was developed with the emphasis on using detailed information as direct aid to the management in the decision-making process. The main purpose of management accounting is to provide necessary information about funds, cost, profits, etc. as well as with the preparation and presentation of accounting information in a way that enables the management to discharge its function properly.<\/p>\n\n\n\n<p>The following can be illustrated in the below diagram.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><a href=\"http:\/\/vskills.in\/certification\/tutorial\/accounting-banking-finance\/business-accountant\/branches-of-accounting-2\/attachment\/branches-of-accounting-2\/\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"457\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2013\/02\/Branches-of-accounting.png\" alt=\"Branches of accounting\" class=\"wp-image-8698\" title=\"Branches of accounting\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2013\/02\/Branches-of-accounting.png 600w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2013\/02\/Branches-of-accounting-300x228.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/figure><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><a href=\"https:\/\/www.vskills.in\/practice\/business-accountant\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"150\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Add-a-subheading.png\" alt=\"certified business accountant free practice test\" class=\"wp-image-92060\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Add-a-subheading.png 960w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Add-a-subheading-300x47.png 300w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/a><\/figure><\/div>\n\n\n\n<p><a href=\"https:\/\/www.vskills.in\/certification\/tutorial\/business-accountant\/\" target=\"_blank\" rel=\"noreferrer noopener\">Go back to Tutorial<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Branches of Accounting Let&#8217;s learn about the branches of accounting. Mainly accounting has three branches. The one branch is co-related to other branches, No one branch can work independently. The performance of one branch is dependent on others. Financial Accounting:\u00a0This branch of accounting is concerned only with the financial affair and financial result of the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[3333],"tags":[3286,3287,5573,2888,6716,5576,5574,3289,3288,5578,5577,5575,5579],"class_list":["post-8697","page","type-page","status-publish","hentry","category-business-accounting","tag-accountancy","tag-accounting","tag-accouting-branches","tag-branches-of-accounting","tag-business-accountant","tag-cost-accounting","tag-financial-accounting","tag-government-certification","tag-government-jobs","tag-management-accounting","tag-meaning-of-cost-accounting","tag-meaning-of-financial-accounting","tag-meaning-of-management-accounting"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Business Accountant Tutorials | Branches of Accounting<\/title>\n<meta name=\"description\" content=\"Want to learn more about branches of accounting. Become a Certified Business Accountant Now! Start your preparation with free practice test\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Accountant Tutorials | Branches of Accounting\" \/>\n<meta property=\"og:description\" content=\"Want to learn more about branches of accounting. Become a Certified Business Accountant Now! Start your preparation with free practice test\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Tutorial\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/vskills.in\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-12T08:44:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5.png\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/\",\"name\":\"Business Accountant Tutorials | Branches of Accounting\",\"isPartOf\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5.png\",\"datePublished\":\"2013-02-28T10:09:03+00:00\",\"dateModified\":\"2024-04-12T08:44:27+00:00\",\"description\":\"Want to learn more about branches of accounting. Become a Certified Business Accountant Now! Start your preparation with free practice test\",\"breadcrumb\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/#primaryimage\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5.png\",\"contentUrl\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5.png\",\"width\":750,\"height\":400},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.vskills.in\/certification\/tutorial\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business Accountant Tutorial | Branches of Accounting\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#website\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/\",\"name\":\"Tutorial\",\"description\":\"Vskills - A initiative in elearning and certification\",\"publisher\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.vskills.in\/certification\/tutorial\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#organization\",\"name\":\"Vskills\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/07\/vskills-min-logo.jpg\",\"contentUrl\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/07\/vskills-min-logo.jpg\",\"width\":73,\"height\":55,\"caption\":\"Vskills\"},\"image\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/vskills.in\/\",\"https:\/\/x.com\/vskills_in\",\"https:\/\/www.linkedin.com\/company-beta\/1371554\/\",\"https:\/\/www.youtube.com\/channel\/UCMWnscxPwRF_PqXo9B7q_Tw\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Business Accountant Tutorials | Branches of Accounting","description":"Want to learn more about branches of accounting. Become a Certified Business Accountant Now! Start your preparation with free practice test","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/","og_locale":"en_US","og_type":"article","og_title":"Business Accountant Tutorials | Branches of Accounting","og_description":"Want to learn more about branches of accounting. Become a Certified Business Accountant Now! Start your preparation with free practice test","og_url":"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/","og_site_name":"Tutorial","article_publisher":"https:\/\/www.facebook.com\/vskills.in\/","article_modified_time":"2024-04-12T08:44:27+00:00","og_image":[{"url":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5.png","type":"","width":"","height":""}],"twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/","url":"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/","name":"Business Accountant Tutorials | Branches of Accounting","isPartOf":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/#primaryimage"},"image":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/#primaryimage"},"thumbnailUrl":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5.png","datePublished":"2013-02-28T10:09:03+00:00","dateModified":"2024-04-12T08:44:27+00:00","description":"Want to learn more about branches of accounting. Become a Certified Business Accountant Now! Start your preparation with free practice test","breadcrumb":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/#primaryimage","url":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5.png","contentUrl":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-5.png","width":750,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/branches-of-accounting-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.vskills.in\/certification\/tutorial\/"},{"@type":"ListItem","position":2,"name":"Business Accountant Tutorial | Branches of Accounting"}]},{"@type":"WebSite","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#website","url":"https:\/\/www.vskills.in\/certification\/tutorial\/","name":"Tutorial","description":"Vskills - A initiative in elearning and certification","publisher":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.vskills.in\/certification\/tutorial\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#organization","name":"Vskills","url":"https:\/\/www.vskills.in\/certification\/tutorial\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#\/schema\/logo\/image\/","url":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/07\/vskills-min-logo.jpg","contentUrl":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/07\/vskills-min-logo.jpg","width":73,"height":55,"caption":"Vskills"},"image":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/vskills.in\/","https:\/\/x.com\/vskills_in","https:\/\/www.linkedin.com\/company-beta\/1371554\/","https:\/\/www.youtube.com\/channel\/UCMWnscxPwRF_PqXo9B7q_Tw"]}]}},"_links":{"self":[{"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/pages\/8697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/comments?post=8697"}],"version-history":[{"count":15,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/pages\/8697\/revisions"}],"predecessor-version":[{"id":92954,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/pages\/8697\/revisions\/92954"}],"wp:attachment":[{"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/media?parent=8697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/categories?post=8697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/tags?post=8697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}