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Financial accounting refers to accounting refers to accounting for revenues, expenses, assets, and liabilities. It involves the basic accounting processes of recording,

classifying, and summarizing transactions.

- Cost accounting is the branch of accounting dealing with the recording, classification, allocation, and reporting of current and prospective costs.

- Managerial accounting is the branch of accounting designed to provide information to various management levels in the hospitality operation for the purpose of

enhancing controls.

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14y ago
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14y ago

Following are different branches of accounting:

1- Cost Accounting
2- Financial Accounting
3- Management Accounting

branches of accounting are two:

1-financial accounting

2-management accounting(cost a/c & managerial a/c)

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9y ago

financial accounting, governmental accounting, tax accounting

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Q: What are the major classifications of accounting?
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