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  • Branches of Accounting - Public and Private

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    Leslie Perez
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    The document outlines 4 main branches of accounting according to PICPA: public accounting, private accounting, government accounting, and accounting education. It describes public accounting as involving attestation services and the issuance of reports, with career paths ranging from auditor to partner. Private accounting is working for companies to set up financial reporting systems and provide accounting information to management. Career paths in private accounting can range from staff to CFO.

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    The document outlines 4 main branches of accounting according to PICPA: public accounting, private accounting, government accounting, and accounting education. It describes public accounting as involving attestation services and the issuance of reports, with career paths ranging from auditor to partner. Private accounting is working for companies to set up financial reporting systems and provide accounting information to management. Career paths in private accounting can range from staff to CFO.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    60 views8 pages

    Branches of Accounting - Public and Private

    Uploaded by

    Leslie Perez
    The document outlines 4 main branches of accounting according to PICPA: public accounting, private accounting, government accounting, and accounting education. It describes public accounting as involving attestation services and the issuance of reports, with career paths ranging from auditor to partner. Private accounting is working for companies to set up financial reporting systems and provide accounting information to management. Career paths in private accounting can range from staff to CFO.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 8

    BRANCHES OF

    ACCOUNTING
    BRANCHES OF ACCOUNTING
    • According to Philippine Institute of Certified Public Accountant (PICPA)
    Classified fields or branches of accounting into four main sectors

    • PUBLIC ACCOUNTING
    • PRIVATE ACCOUNTING
    • GOVERNMENT ACCOUNTING
    • ACCOUNTING EDUCATION
    PUBLIC ACCOUNTING
    • The accountant performs or offers to perform any activity that will result to
    The issuance of an attest report that is in accordance to the professional
    Standards.
    • Such activities includes consulting services, personal financial planning
    Services, preparation of tax returns and advice on tax matters for a fee.
    • Certified Public Accountants (CPA) are called for those who have passed the
    Licensure examination in the Philippines
    Possible Career Paths
    • Entry Level Position : Auditor, Tax Accountant, Management Consultant,
    Financial Adviser, Forensic Accountant
    • Middle Level Position : Senior Audit Manager, Senior Tax Manager,
    Senior
    Consulting Manager/Financial Advisory Manager
    • Advanced Position : Partner, Senior Partner, Senior Consultant / Financial
    Advisor
    Examples of Public Accounting
    • EXTERNAL AUDITING

    • TAX PREPARATION AND PLANNING SERVICES

    • MANAGEMENT ADVISORY SERVICES


    PRIVATE ACCOUNTING
    • Involves setting up systems of recording business transactions that are
    Aggregated into financial statements.
    • Includes the development and interpretation of accounting information
    Intended to assist management and operating the business
    • A private accountant is a salaried employee who deals with the companies
    Day to day accounting needs
    CAREER PATHS
    • Entry Level : Cost Analyst, Investment Analyst, Financial Accounting &
    Reporting Staff, Management Accounting Staff, Tax
    Accounting Staff etc.
    • Middle Level : Comptroller / Controller, Senior Information System
    Auditor
    Senior Loan Officer, Senior Fraud Examiner
    • Advanced Level : Chief Financial Officer (CFO) , Chief Information
    Officer
    BRANCHES UNDER PRIVATE
    ACCOUNTING
    • FINANCIAL ACCOUNTING
    • COST ACCOUNTING
    • BUDGETING
    • ACCOUNTING INFORMATION SYSTEM
    • TAX ACCOUNTING
    • INTERNAL AUDITING

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