Describing accounting responsibilities Many accounting professionals work in one of the following three areas.

A. Financial accounting 

B. Managerial accounting 

C. Tax accounting 

Identify the area of accounting that is most involved in each of the following responsibilities.

I. Internal auditing.

2. External auditing.

3. Cost accounting.

4. Budgeting.

5. Investigating violations of tax laws.

6. Planning transactions to minimize taxes.

7. Preparing external financial statements.

8. Reviewing reports for SEC compliance.