The difference between strategic financial management and financial management lies in their focus and scope. Financial management primarily involves managing an organization's day-to-day finances, such as budgeting, accounting, and cash flow management. Strategic financial management, on the other hand, focuses on long-term financial planning aligned with the organization’s goals and objectives. It involves making decisions that not only improve current financial performance but also ensure the organization's future financial stability and growth. For expert insights on strategic management concepts, visit PMTrainingSchool .Com (PM training).
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.
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.
Financial management focuses on the strategic planning, organizing, directing, and controlling of financial activities, aiming to maximize shareholder value and ensure the efficient use of company resources. In contrast, accounting primarily deals with the systematic recording, reporting, and analysis of financial transactions, providing a historical view of a company's financial performance and position. While financial management is forward-looking and concerned with future financial strategies, accounting is retrospective and emphasizes compliance and accurate financial reporting.
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.
what is the relation between management and administration
I think that functional area is a place where people works and a management function is a people who manage...
Define 'Accounting' Distinguish between Financial Accounting and Management Accounting
A relation is an assciation between two or more entities.
The difference between strategic financial management and financial management lies in their focus and scope. Financial management primarily involves managing an organization's day-to-day finances, such as budgeting, accounting, and cash flow management. Strategic financial management, on the other hand, focuses on long-term financial planning aligned with the organization’s goals and objectives. It involves making decisions that not only improve current financial performance but also ensure the organization's future financial stability and growth. For expert insights on strategic management concepts, visit PMTrainingSchool .Com (PM training).
The difference between insurance and financial management is insurance is some thing you have to protect ur car, home, baot, etc. from being financialy stuck with a bill that you have to pay by yourself and financial management is
DISTNGUISH between finance, management accountant and financial accounting
iiiustrate by means of a diagram the budget planning process show clearly the difference between a functional budget and a financial budget
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.
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Project Management is more or less of a standardized process for handling projects from inception to completion. Typically, a project manager works under a functional manager (I believe this is what you mean by traditional management). A functional manager usually has the resources and has more authority than the project manager. In small companies, a functional manager can also be a project manager.
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