4 Tutorials that teach Accounting in Practice
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Accounting in Practice

Accounting in Practice

Author: Kevin Bullock
In this lesson, the student will learn about financial and managerial accounting and major roles in the field of accounting.
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Notes on "Accounting in Practice"

Key Terms

Financial Accounting

A branch of accounting focused on external reporting of financial status to provide information to decision makers and interested parties.

Managerial Accounting

A branch of accounting focused on internal reporting to assist internal management with decisions, structure and goals.


An individual or organization that legally owns one or more shares in a company.


An individual who has dedicated capital to a company with an expectation of a return on their investment.


An individual within an organization accountable for all aspects of financial reporting and accounting.


A practitioner with acquired skills in the field of accountancy.


An individual who documents an organization's monetary transactions.


An individual who conducts an objective appraisal of accounting processes and data within an organization.