Yap, lets see…Accounting got three main branches, just like chemistry…hehe…
The branches are of course: Financial accounting, Cost accounting and Management accounting. As for CAT (the programme that I am doing now), we do cover ALL the basics of these three parts, plus also some issues on Management, Statistics, General businesses and Taxation. What I am trying to say is what is the best? I also don’t know. Because every thing is quite different from the other and the things are quite into details also…since these are preparatory essential for ACCA Part 2 entrance…
Financial accounting deals with debit and credit issues + preparing full set of accounts,Cost accounting deals with production line, calculating COST while Management accounting more on decision-making. (if not mistaken, next semester only will deals with it.) Management definitely deals with the super-duper boring management theories; Taxation is more like studying LAWS (the application is simple, just that the content is more like a LAWS book), Statistics of course deals with figures…
For me, Cost accounting seems easier. No financial statements standard formats, no debit & credit, no long list of IFRS. All you need to know is try to pretend as a manager and manage the production costs to a minimum…
Once you are able to understand how cost accounting works (this is the hardest one)…the works after that is just simply calculations & calculations…Lots of calculations…like Mathematics…
As for others subjects areas, not to mention la, is definitely not easy…hope that can make myself to “put in” all those essential facts…and graduates successfully by this year end… and see whether can go to Sunway for higher stage of ACCA or not…
Bye for now!
