Managerial Accounting vs Financial Accounting

Managerial and Financial Accounting ACCT/300: Principles of Accounting April 9, 2008 Managerial and Financial Accounting This paper will attempt to differentiate between fudgerial and pecuniary accounting, the maprs of managerial and financial accounting and what type of business decisions would be made with the teaching. Managerial Accounting Managerial accounting provides accounting selective knowledge to managers who are inside an organization and who directs and controls its operations, to help them make decisions to manage the business. For example, it provides information on the costs of an organizations products and services, which managers erect use products cost to guide the setting of selling prices, and use services cost to make inventory valuation and income determination. It provides information on the budgets and performance reports. These reports often consist of comparisons of budgets with actual results. It as well provides information on revenues of an organizations products and services, sales clog up logs, unit quantities and demands on capacity resources, which assist managers in their plan and control activities (Managerial Accounting, 2008).

Financial Accounting Financial accounting is used to touch on accounting information for people outside the organization or not involved in the day to day hurry of the company. The primary objectives of financial accounting are to provide information that is useful in making investment and credit decisions; in assessing the amount, timing, and uncertainty of future cash flows; and in schooling nearly the enterprises economic resources, claims to resources, and changes in claims to resources. Some of the most cardinal information that financial accounting provides are: it is a bureau to an end, it is historical in nature, it results from inexact and approximate measures of business activity, and it is base on a general-purpose assumption (McGraw Hill online learning center). Business... If you want to get a full essay, order it on our website: Ordercustompaper.com

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