Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 22

Many accounting professionals work in one of the following three areas:
A. Financial accounting
B. Managerial accounting
C. Tax accounting
Identify the area of accounting that is most involved in each of the following responsibilities:
_______ 1. Internal auditing
_______ 2. External auditing
_______ 3. Cost accounting
_______ 4. Budgeting
_______ 5. Investigating violations of tax laws
_______ 6. Planning transactions to minimize taxes
_______ 7. Preparing external financial statements
_______ 8. Reviewing reports for SEC compliance