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Comparing actual results to expected results is an example of: A. Decision making. B. Planning C. Incremental analysis. D. Control.

Accounting can be divided into several fields including financial accountingmanagement accountingexternal auditingtax accountingand cost accounting.[6][7] Accounting information systems are designed to support accounting functions and related activities. Financial accounting focuses on the reporting of an organization’s financial information, including the preparation of financial statements, to the external users of the information, such as investorsregulators and suppliers;[8] and management accounting focuses on the measurement, analysis and reporting of information for internal use by management.[1][8] 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 bookkeeping is the most common system.[9]

Accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodiesFinancial statements are usually audited by accounting firms,[10] and are prepared in accordance with generally accepted accounting principles(GAAP).[8] GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States[1] and the Financial Reporting Council in the United Kingdom. As of 2012, “all major economies” have plans to convergetowards or adopt the International Financial Reporting Standards (IFRS).