Accounting is the organizational unit of a business that created the records. The terms bookkeeping and accounting are colloquially often used interchangeably. In business economics, the term accounting only the methodology or activity. Persons who are entrusted with the accounting department are referred to as an accountant.
Depending on the size and type of organization it may be useful to divide the accounts into sub-areas.
- The Financial Accounting bay operations that are necessary for the recognition and profit and loss account.
- The Accounts Receivable processes the claims on customers.
- The Accounts Payable processes the liabilities to suppliers.
- The Asset Accounting managed fixed assets.
- The payroll department handles the payroll and salary statements.
- The cost and performance accounting assigns, cause what costs the individual business units and / or projects.
- The store or mass accountancy is responsible for the accounting of transactions in Materials Management.
- The energy accounting is applied in the municipal facility management.
The Kameralistik or Kameralbuchhaltung is a special form that is used in government organizations.