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Accountants and auditors keep track of a company's money. The company's managers and people outside the company read their reports. Managers look at the accountants' reports to see how well their companies are doing. Governments use the reports to tell how much tax a company should pay. Some people read them to decide if they want to do business with the company. Others use them to decide if they want to lend money to the company or not.

Most accountants have a specialty. There are four main kinds of accountants.

Public accountants work for public accounting companies. They do accounting, auditing, tax, and consulting work. Some have their own businesses. They do many different kinds of accounting for people outside the company.

Management accountants keep track of the money spent and made by the companies for which they work.

Internal auditors make sure that a company's accounting records are right. They check the records to see that no one in the company is stealing. They also check to see that no one in the company is wasting the company's money.

Government accountants and auditors make sure that government accounting records are right. They also check the records of people doing business with the government.

Accountants and auditors work in offices. They generally work a standard 40-hour week, but some work 50 hours a week or more. Tax accountants often work long hours during the tax season, from January to April. Accountants working for the government and public companies travel to audit other companies or b

Investopedia explains Balance Sheet
It's called a balance sheet because the two sides balance out. This makes sense: a company has to pay for all the things it has (assets) by either borrowing money (liabilities) or getting it from shareholders (shareholders' equity).

Each of the three segments of the balance sheet will have many accounts within it that document the value of each. Accounts such as cash, inventory and property are on the asset side of the balance sheet, while on the liability side there are accounts such as accounts payable or long-term debt. The exact accounts on a balance sheet will differ by company and by industry, as there is no one set template that accurately accommodates for the differences between different types of businesses Investopedia explains Balance Sheet
It's called a balance sheet because the two sides balance out. This makes sense: a company has to pay for all the things it has (assets) by either borrowing money (liabilities) or getting it from shareholders (shareholders' equity).

Each of the three segments of the balance sheet will have many accounts within it that document the value of each. Accounts such as cash, inventory and property are on the asset side of the balance sheet, while on the liability side there are accounts such as accounts payable or long-term debt. The exact accounts on a balance sheet will differ by company and by industry, as there is no one set template that accurately accommodates for the differences between different types of businesses

Cost reconciliation is the part of a production report that shows what costs a department has to account for during a period and how those costs are accounted for.

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