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What is the difference between financial accounting and Financial Management?
Wiki User
∙ 15y ago
the basic difference between f.m. and f.a. is .... f.m. deals with the procurement and allocation of finance and financial resources...where as...financial accountin deals recording of financial transactions in a systematic manner (by following the code of conduct) for particular period... 1f.m. deals with plannnig for future 2.f.a. based on historical transactions. for further queries....please contact miss parul and mr. mitesh( finance specialists)
Wiki User
∙ 15y ago
Wiki User
∙ 12y agoManagerial accounting is for internal users (those directly involved in managing and operating and organization), while financial accounting is for external users (those indirectly involved in running an organization).
Answer 2:Management (or managerial) accounting is used for internal business purposes. It includes lots of estimates and projections. It can be very informal, if the managers so desire. It is used by people inside the company to make decisions about the direction of the company.Financial accounting is for external users. It must be prepared following standards laid out in GAAP (for US companies) or a foreign equivalent. External users, such as investors, creditors, suppliers, and customers use financial accounting information to make decisions related to the company in question.
Wiki User
∙ 14y agothe difference is management is identifying ,measuring ,analizing etc.cost is analysis of finanial accounting data for fixiation.
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What is the difference between What is the difference between financial accounting and management accounting?
Financial accounting is used to present the performance and financial statements to third parties while management accounting is used for company's internal working purpose.
Is Management accounting starts where financial accounting ends?
Management accounting starts where financial accounting ends
What is the difference between financial accounting and cost and management accounting?
Financial accounting is the preparation of financial statements for decision makers. Cost accounting is collecting, analyzing, summarizing, and evaluating courses of action. Management accounting is simply used to better a company by reviewing the accounting information.
Define 'Accounting' Distinguish between Financial Accounting and Management Accounting?
Define 'Accounting' Distinguish between Financial Accounting and Management Accounting
What is the difference between cost accountant and financial accountant?
DISTNGUISH between finance, management accountant and financial accounting
What are the different fields of accountung?
1- Cost Accounting 2 - Financial Accounting 3 - Management Accounting
How does cost accounting relates to management accounting and financial accounting?
cost accounting provides the basic information for both management and financial accounting.The similarities between government accounting and financial accounting is that both involves the balance of accounts.
Differentiate cost accounting system from financial accounting system?
Q.5 Differentiate Financial Accounting and Management accounting
Why financial accounting defer with other disciplines?
Financial Accounting just deals with the recording, analysing and classification of financial statements. Whereby other disciplines related to Financial accounting deal with the information "recieved" from Financial Accounting. For example : Management Accounting deals with making decisions for the company's growth and stability, on the contrary Financial accounting provides the data to management accounting for its decision making process.
What are the components of a financial system?
Funds management, financial accounting, controlling
What are the component of financial system?
Funds management, financial accounting, controlling
Explain the difference between financial accounting and management accounting?
Management accounting is a tool that managers use to perform day-to-day operations in an organization. This type of accounting usually does not provide exact numbers, but rather estimate and forecast. Financial accounting is a tool used to present the financial status of the organization to its external stakeholders. This type of accounting provides accurate numbers.
