Illinois accounting is the practice of accounting in the state of Illinois. It focuses on the unique laws and regulations of the state, including the Illinois Income Tax Act and the Uniform Commercial Code. Illinois accounting involves the preparation and review of financial statements, budgeting, and tax compliance. It also includes the analysis of financial data and the development of accounting systems to ensure the accuracy of financial records. There are several types of Illinois accounting, such as financial statement preparation, auditing, and tax accounting. Financial statement preparation involves the creation of financial statements that accurately reflect the financial position of a company or organization. Auditing involves the examination of financial records to ensure compliance with financial reporting standards. Tax accounting involves the preparation of tax returns in accordance with state and federal laws, as well as the analysis of tax liabilities.