BREAKING DOWN 'Accounting'

The reports generated by various streams of accounting, such as cost accounting and
management accounting, are invaluable in helping management make informed business
decisions. While basic accounting functions can be handled by a bookkeeper, advanced
accounting is typically handled by qualified accountants who possess designations such as
Certified Public Accountant (CPA) in the United States, or Chartered Accountant (CA), Certified
General Accountant (CGA) or Certified Management Accountant (CMA) in Canada.