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types in the accounting cycle what is accounting accounting is the systematic process of recording classifying summarizing analyzing and interpreting Financial transactions to provide information for decision- making it is the language of business providing insights into a companyamp;#39;s Financial Health performance and position types of accounting accounting can be classified based on various criteria based on users Financial Accounting provides information to exter users such as investors creditors and government agencies it adheres to specific Accounting Standards like Gap or IFRS management accounting provides information to internal users like management to make informed decisions it is not bound by strict rules and can be tailored to specific needs based on function cost accounting focuses on determining the cost of producing goods or services tax accounting deals with the preparation of tax returns and tax planning auditing examines Financial records to ensure accuracy and co
