Public Accounting <\/strong><\/p>\n\n\n\n

This would be an accounting service to the general public, and is thought to be more professional than private accounting. Certified and non-certified public accountants can provide public accounting services.<\/p>\n\n\n\n

Private Accounting <\/strong><\/p>\n\n\n\n

This would be accounting that is limited to only a single firm, where an accountant receives a salary on an employer-employee basis. This term is used even if the employer is in a public corporation.<\/p>\n\n\n\n

National Income Accounting <\/strong><\/p>\n\n\n\n

Rather than the usual business concept, national income accounting uses an economic or social concept. This type of accounting provides estimates of a country\u2019s annual purchasing power.<\/p>\n\n\n\n

Fiduciary Accounting <\/strong><\/p>\n\n\n\n

This type of accounting is done by a trustee, executor, or administrator. The job is to keep the records and prepare the reports, which may be authorized by or under the jurisdiction of a court of law.<\/p>\n\n\n\n

Fund or Governmental Accounting <\/strong><\/p>\n\n\n\n

This type of accountant works for non-profit organizations or branches of government. The double-entry system of accounting is used, the same as conventional accounting. Special funds accounting is also used.<\/p>\n\n\n\n

Forensic Accounting <\/strong><\/p>\n\n\n\n

Forensic accounting looks at issues that result from actual or anticipated disputes or litigation. Forensic accountants often have to give expert evidence at a trial. All of the larger accounting firms have specialist forensic accounting departments and within these groups, there may be even more sub-specializations. Some forensic accountants may just specialize in insurance claims, personal injury claims, fraud, construction, or royalty audits.<\/p>\n\n\n\n

Investment Accounting <\/strong><\/p>\n\n\n\n

Investment accounting, portfolio accounting or securities accounting \u2013 all synonyms the describe the process of accounting for a portfolio of investments such as securities, commodities and\/or real estate held in an investment fund such as a mutual fund or hedge fund.<\/p>\n\n\n\n