Before revision: Public vs. private accounting
After revision: **Public Accounting:**- **Scope:** Involves providing accounting services to a variety of clients, including individuals, businesses, and governments.- **Services:** Includes auditing, tax preparation, consulting, and financial planning.- **Clients:** Typically work with multiple clients, providing services on a fee-for-service basis.- **Regulation:** Must comply with professional standards and regulations set by bodies such as the AICPA (American Institute of Certified Public Accountants) or equivalent organizations in other countries.- **Work Environment:** Often found in accounting firms or as independent consultants.Public vs. private accounting