IndexTypes of ResponsibilitiesPoliticalSocialEnvironmentalAuditDifference Between Accounting and AuditingMeaningPurposeBeginPeriodAccounting is a specialized business language that helps in understanding economic activities. It is an act of order, keeping the records of the company's daily monetary transactions, the transactions are then classified into various groups followed by the summary so that it can be consulted at an urgent time and subsequently analyzing and understanding the results of the financial statement and the results must be communicated to interested parties. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Accounting is governed by accounting standards. The main function of accounting is to provide material information related to decision making. Industrial accounting, management accounting, financial accounting are the branch of accounting. The objectives of accounting are as follows: Proper recording of transactions through journal, books, ledger and trial balance. Declare the profitability position from the records through the income statement. Present your financial position through the statement of financial position. Provide necessary information on solvency and liquidity position to interested parties. Types of responsibility Political It is the responsibility of the government and politicians towards public bodies such as parliament. Refers to the commitment of government officials to act in the best interests of society.SocialD. Crowther defines social responsibility as a perspective on reporting a company's activities that provides identification of socially relevant behavior. It is mainly used for corporate social responsibility (CSR) and is used in organizations such as NGOs. Environmental It is an area that identifies the use of resources, measures and communicates the costs of a company that could have an impact on the environment. Costs include fines and taxes, waste management costs, clean-up costs. It measures the effects of a company's natural environment in monetary terms. Auditing It is a logical task to examine financial information independently to give an opinion on the true and correct view. In this case organization refers to all units regardless of size, structure, nature and form. Auditing is governed by the audit standard. Audit is a fundamental inspection of every transaction, i.e. receipts, books and documents are checked to demonstrate the accuracy of the financial statement. Furthermore, errors and frauds, manipulations in records or misappropriations can be detected through detailed analysis. Difference between Accountability and Audit Meaning Accounting means constantly keeping records of an organization's accounts and preparing financial statements at the end of the financial year. Auditing means reviewing the books and financial statements of an organization. Governed by Accounting Standards Auditing Standards. Work done by the accountant. begins where accounting ends. Auditing begins where accounting ends. Periodic accounting is a never-ending process. Remember: this is just an example. Get a customized paper from our expert writers now. Get a Custom Essay Auditing is a periodic process.