Which of the following best describes the field of forensic accounting?

Forensic accounting is a specialized field that merges accounting, auditing, and investigative skills. It specifically applies accounting principles and methodologies to legal matters, which can include fraud investigations, litigation support, and other legal inquiries requiring an in-depth financial analysis. This position often entails examining financial records for evidence of misconduct or discrepancies, and it often results in reports that can be used in court.

The emphasis on legal investigations distinguishes this field from others in accounting, such as those focusing solely on historical analysis, financial statement preparation, or compliance issues. While all those areas are important in accounting, they do not center on the intersection of accounting and legal contexts, which is the hallmark of forensic accounting. This unique focus on legal matters makes option B the best description of the field.