Stores Accounting

Stores Accounting



Branches of accounting:

1 - Financial Accounting.

2 - cost accounting.

3 - Management Accounting

4 - Zakat Accounting and Tax

5 - Government Accounting

Financial Accounting:

Is one of the branches of accountability means documenting and financial data processing and delivery to the beneficiaries in the form of financial reports prepared in accordance with agreed criteria for use in decision-making.

Cost Accounting: A branch of the accounting means compilation and processing of financial information to gain access to the cost of production, either in total or in units of its units, and used in planning and internal control and financial reporting to management or to outside parties.

Management Accounting: Accounting is linked to the branches of a financial accounting and cost accounting and focus on the analysis of information derived from the accounting system and put it in the form of management can act in light of a clear vision, and allows them to follow the course of events and to judge the conduct of the business.

Zakat Accounting and Taxes: It means compiling and processing of financial information to gain access to the amount subject to Zakat, or the amount of taxable and is what is known (and tax base or zakat), and set up the Adoption of the Zakat or tax return for access to the amount of zakat or tax to be paid to the Department of Zakat and income.

Government Accounting: The branch of accounting and dealing with collection and processing of information and documentation relating to expenditures and government revenues to make sure to set the public funds and control them and use them optimally.

Review:

If it were not a branch of accounting, but it is in this context; Valemradjap concerned with examining all or some parts of the accounting system to achieve two objectives, one external and one internal.



External Audit (legal review): interested in examining all or some parts of the accounting system to give confidence to the financial reports prepared by the system in accordance with auditing standards agreed upon, and the results of that report or certificate from the Statutory Auditor to be attached to the financial statements and published them.



Internal Audit: scan all or some parts of the accounting system to ensure integrity, and in order that the Administration ensure that the system is going as planned and it serves the purposes for which management aims to achieve it.