This branch of accounting presents an organization's financial resources and obligations by means of balance sheets, income statements and cash flow statements.

Cost accounting is a branch of accounting focused on recording, analyzing and reporting the costs associated with the production of goods or services within an organization, according to Stephens.

Accounting is the process of keeping track of all financial transactions within a business, such as any money coming in and money going out. It’s not only important for businesses in terms of ...