The study of the theory and practice of developing, maintaining, auditing and analysing financial records. The main purpose of this narrow field of education is to develop an understanding of accounting principles and processes in order to organise and maintain corporate and personal financial records. It also involves developing an ability to interpret, evaluate and prepare financial records for use in corporate and personal financial decision-making.
Accounting develops skills in:
- auditing financial accounts and providing reports on those audits
- designing and operating financial systems for individuals and organisations
- preparing general purpose accounting statements
- providing advice on taxation law and practice and completing taxation reports for clients.
Source: Australian Bureau of Statistics