Accounting can be divided into several fields 

• Financial Accounting
• Management Accounting
• Cost Accounting 

Financial Accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to external users of the information, such as investors, regulators and suppliers.

The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookeeping is the most common system.

Management Accounting focuses on the measurement, analysis and reporting of information for internal use by management. 

Cost Accounting focuses on the process of collecting, analyzing, summarizing and evaluating various alternative courses of action. Its goal is to advise the management on the most appropriate course of action based on the cost efficiency and capability.