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4 Tutorials that teach Accounting in Practice
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Accounting in Practice

Accounting in Practice

Author: Jere Smith

In this lesson, the student will learn about financial and managerial accounting and major roles in the field of accounting.

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Terms to Know

A practitioner with acquired skills in the field of accountancy.


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


An individual who documents an organization's monetary transactions.


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

Financial Accounting

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


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

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.