What services are provided by accounting firms in New Jersey (nj)
Accounting is a group of activities such as recording every financial transaction, analysing,
summarising the financial information, collecting the records into various books of accounts
and communicating the information to various stakeholders to make good decisions for
business. Accounting helps business owners to use money efficiently and it also helps in
compliance. There are 5 types of accounting: social accounting , financial accounting ,cost
accounting, tax accounting, management accounting.
Services provided by top cpa firms in nj (new jersey) are such as financial accounting , cost
accounting, tax accounting , management accounting ,social accounting.
Financial accounting focuses only on the process of preparing financial reports for external
shareholders of the business such as creditors, investors, public .Tax accounting focuses on
minimising the tax liability of organisations legally.Social accounting deals with
organisations corporate social responsibilities CSR .Managerial accounting focuses on
transmitting the crucial financial information to all other important department managers
and executives so that they can make right and accurate decisions for the firm. Cost
accounting only focuses on efficiently managing the money and minimising the cost of
projects in a mannered way.