Accounting is not a single discipline — it has four main branches or "flavors," each serving a different purpose.
Financial Accounting produces reports for external stakeholders. Management Accounting provides internal data for decision-making. Tax Accounting focuses on tax compliance and planning. Auditing independently verifies financial records for accuracy and fraud prevention.
Understanding these four branches helps you see that accounting is much more than just bookkeeping. Each branch requires different skills and serves different users — but together, they form the backbone of financial management.