- Definition of Accounting -

- Branches of Accounting -
- IAS, IFRS, GAP -
- Career in Accounting -

Mohammed Moin Uddin Reza Nadim

Bangladesh University of Professionals (BUP)
 Definition of Accounting
Accounting is an information system consisting of three basic activities—it
identifies, records, and communicates the economic events of an organization to
interested users.

1 •Identification of Transaction
2 •Recording of Transaction
3 •Communication to Users
 Users of Accounting Information

Internal • Finance Manager, Marketing Manager,

Users HR Manager, Procurement manager etc.

External • Investors (Owners/Shareholders),

Users Creditors, Auditors etc.
 Quick Note
• Accounting and Book-Keeping are the Same - NO
• Communication is the main objective of modern Accounting – YES
• Accounting Information means Financial Statements such as Income
Statement, Balance Sheet, Owner’s Equity Statement, Cash Flow
Statement – YES
• Stock Holder and Stake Holder are the Same – NO
• Father of Accounting – Luca Pacioli
• Input of Accounting Information System – Transaction
• Output of Accounting Information System – Financial Statements
Branches of Accounting

financial accounting
External

Branches of
Accounting

Internal
 Branches of Accounting

E Financial Accounting

Cost Accounting

Management Accounting

Only financial accounting is external accounting, everything else

is gonna be external branch of accounting
 Different Organizations of Accounting

IASB IASC
GAAP ?
IFRS IAS
(2001 Apr 1-Onward) (1973-2001 April 1)
Career in Accounting

CIMA

ACCA CA CMA

CPA