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Cost accounting is usually involved with management accounting. Financial accounting tends to deal with the past and presents information like statements for public and private use. Management... accounting methods and techniques used by managers to operate their firms. Examples include raw materials, labor and manufacturing overhead management. On the other hand.
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Manual accounting system vs computerized accounting system?
manual system is labor-intensive while computer-based system is easy and fast.....
What is the difference between finance accounts?
The following is the distinction between Accounts & Finance: 1) Score keeping Vs Value Maximising: Accounting is concerned with score keeping, whereas finance is aimed at value maximising. The primary objective of accounting is to measure the performance of the firm, assess its financial condition, and determine the base for tax payment. The principal goal of financial management is to create shareholder value by investing in positive net present value projects and minimising the cost of financing. Of course, financial decision making require considerable inputs from accounting. An accountant's role is to provide consistently developed and easily interpreted data about the firm's past, present, and future operations. The financial manager uses these data, either in raw form or after certain adjustments and analyses, as an important input to the decision making process". 2) Accrual Method vs Cash Flow Method: The accountant prepares the accounting reports based on the accrual method which recognises revenues when the sale occurs (irrespective of whether the cash is realised immediately or not) and matches expenses to sales (irrespective of whether cash is paid or not). The focus of the finance manager, however, is on cash flows. He is concerned about the magnitude, timing, and risk of cash flows as these are the fundamental determinants of values. 3) Certainty vs Uncertainty: Accounting deals primarily with the past. It records what has happened. Hence it is relatively more objective and certain. Finance is concerned mainly with the future. It involves decision making under imprefect information and uncertainty. Hence it is characterised by a higher degree of subjectivity.
What is the difference between accounting profit and tax profit?
There are different rules that apply to recognition of revenue and expenses between financial reporting and tax reporting. As an example a small business may incur $10,000 for business meals & entertainment which for financial reporting is 100% deductible. However the IRS only allows the small business to deduct 50% or $5,000. This leads to a different bottom line profit under accounting rules vs tax rules.
Accrual basis accounting vs Cash basis Accounting?
Under accrual basis of accounting, transactions are recorded when they actually occurred while in cash basis accounting transactions are recorded when actual cash is paid. Accrual accounting follows the matching concept according to which all revenues in one period should be match with expenses.
Can taxes be capitalize in accounting?
No. But in Corporation tax there is the entirety of FAS 109...and deferred VS current tax to be recorded.
What is the comparison between management accounting vs financial accountiung in terms of purpose?
Most of financial accounting information is of a monetary,but management accounting is not. It may give information about ( for example ) labor cost per-hour, miles traveled by sales person, etc. Financial accountant present an essentially historic picture of past operations, but management present both the historic and future planning tool.
What has the author John Holmes Myers written?
John Holmes Myers has written: 'Full cost vs. successful efforts in petroleum accounting' -- subject(s): Accounting, Petroleum industry and trade
What has the author Daniel B Thornton written?
Daniel B. Thornton has written: 'The financial reporting of contingencies and uncertainties' -- subject(s): Accounting, Contingencies in finance 'Law and economics of unanticipated changes in generally accepted accounting principles' -- subject(s): Accountants, Accounting, Law and legislation 'GAAP (Generally Accepted Accounting Principles) vs. TAB (Tailored Accounting Principles) in lending agreements' -- subject(s): Accounting, Bonds, Securities
What has the author John H Myers written?
John H. Myers has written: 'Statistical presentation' -- subject(s): Graphic methods, Statistics 'Full cost vs. successful efforts in petroleum accounting' -- subject(s): Accounting, Petroleum industry and trade
Manual accounting system vs computerized accounting system?
manual system is labor-intensive while computer-based system is easy and fast.....
What is the difference between accounting profit and tax profit?
There are different rules that apply to recognition of revenue and expenses between financial reporting and tax reporting. As an example a small business may incur $10,000 for business meals & entertainment which for financial reporting is 100% deductible. However the IRS only allows the small business to deduct 50% or $5,000. This leads to a different bottom line profit under accounting rules vs tax rules.
What is the difference between finance accounts?
The following is the distinction between Accounts & Finance: 1) Score keeping Vs Value Maximising: Accounting is concerned with score keeping, whereas finance is aimed at value maximising. The primary objective of accounting is to measure the performance of the firm, assess its financial condition, and determine the base for tax payment. The principal goal of financial management is to create shareholder value by investing in positive net present value projects and minimising the cost of financing. Of course, financial decision making require considerable inputs from accounting. An accountant's role is to provide consistently developed and easily interpreted data about the firm's past, present, and future operations. The financial manager uses these data, either in raw form or after certain adjustments and analyses, as an important input to the decision making process". 2) Accrual Method vs Cash Flow Method: The accountant prepares the accounting reports based on the accrual method which recognises revenues when the sale occurs (irrespective of whether the cash is realised immediately or not) and matches expenses to sales (irrespective of whether cash is paid or not). The focus of the finance manager, however, is on cash flows. He is concerned about the magnitude, timing, and risk of cash flows as these are the fundamental determinants of values. 3) Certainty vs Uncertainty: Accounting deals primarily with the past. It records what has happened. Hence it is relatively more objective and certain. Finance is concerned mainly with the future. It involves decision making under imprefect information and uncertainty. Hence it is characterised by a higher degree of subjectivity.
Fidelity Investments vs. Fidelity National Financial?
Unrelated
What is the conflict in swindle?
it's person vs society. griffin faces financial problems.
Accrual basis accounting vs Cash basis Accounting?
Under accrual basis of accounting, transactions are recorded when they actually occurred while in cash basis accounting transactions are recorded when actual cash is paid. Accrual accounting follows the matching concept according to which all revenues in one period should be match with expenses.
Can taxes be capitalize in accounting?
No. But in Corporation tax there is the entirety of FAS 109...and deferred VS current tax to be recorded.
How much does Smackdown vs Raw 2010 cost in euro?
In dollars, Smackdown vs. Raw 2010 would cost $60.00. In euros, it would be 41.12 Euros.
