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Transparent Accounting — What is that?

There are many different types of accounting.
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!!Financial Accounting

• Concerned with the financial statements of a company or organization: Balance Sheet, Income Statement, Statement of Owners' Equity
• Publicly-traded companies' statements require compliance with rules that are regulated by entities such as the Financial Accounting Standards Board (FASB).

Managerial Accounting

• Sometimes referred to as "cost accounting"
• Concerned with internal operating efficiencies and optimization (for example) in a production environment.
• Concerned with variances and "capturing" an accurate assessment of cost.

Tax Accounting

• Concerned with obligation of tax payments and compliance to tax laws at the local, state, and federal levels.
• Can be at either an organizational or individual level.
• Various tax classifications of organizations

Governmental and Not-for-Profit Accounting

• Accounting for the budgets of municipalities
• Accounting for the allocation and expenditure of tax revenue
• Various levels: city, county, state, federal

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