Chapter 17 Accounting: process of systematically collecting, analyzing, and reporting financial information. Private accountant: employed by a organization Private Accountants provide the following services: General accounting: recording business transactions and preparing financial statements Budgeting: Develop budgets for sales and operating expenses. Cost Accounting: Determining the cost of producing specific products or services. Tax Accounting: Planning tax strategy and preparing tax returns for the firm. Public Accountant: an accountant whose services may be hired on a fee …
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