All of us have had accounting as subject in our school and college days if commerce was your niche. It has lots to teach us and most of the concepts are used in real life as well. There are several Finance - Accounts - Online/E-learning Programs that can add on to the lives of the student or even a professional looking for assurance of his current position or promotion in the pyramid.
Here are some of the sub-fields of Accounting:
Every organization prepares a financial report, based on which decisions are made. Financial reporting deal with sharing this report with other shareholders such as suppliers, regulators, investors and so on. It helps in recording the business transactions such as sales, purchases, debit, credit and so on. The financial transactions help in recording forming financial statements.
Most of the decisions in an Organization are made after having a look at the financial report. The growth of the company is decided by the profit it has made. Management Accounting deals with the measurement, analysis and reporting that will help the management to take a decision. It mainly focuses on future reports. One of the example suitable to mention is the budget for the upcoming year.
The financial statements of the company must be audited to ensure that the all the records shown are correctly collected and presented to the concerned as well as the tax is being paid. The auditor will evaluate these financial statements and will reveal the financial position of the firm, the cash flow, results of an operation and so on.
Accounting Information Systems is yet another aspect you should be aware of. It mainly focusses on processing accounting data. One of the prominent among them is tax Accounting. Needless to say that all the citizens and organizations are liable to pay tax. The Tax Accounting focuses on tax payments filing the tax returns.
Thus, Accounting is one such subject which is used in all the sectors. If you want to make a career in it, you can join Finance - Accounts - Online/E-learning Programs by any of the reputed training institutes.