Interested to Buy Any Domain ? << Click Here >> for more details...
DIFFERENCES BETWEEN MANAGEMENT ACCONTING AND FINACIAL
ACCOUNTIG
- 1 Answers
- 8399 Views
- EXL, Wipro, I also Faced
- E-Mail Answers
Answer / ameet narayankhedkar
Financial accounting is the collection, recording,
classification and proper presentation of financial
information or date in such a way that all external agencies
such as income tax authorities, government, shareholders,
creditors of a company can understand it easily. From the
data presented by financial accounting, these external
agencies can easily understand what exactly is going on in a
company. They can know the financial strengths and
weaknesses of a firm by the financial data presented through
the process of financial accounting. Managerial accounting
is related to the accounting work done for the better
understanding of facts for the management of the company.
Management accounting is not done for any outside party, but
only for the company management to know where they should
give more attention to post better financial results.
Another difference between these two types of accounting is
that financial accounting is mandatory whereas management
accounting is optional.
| Is This Answer Correct ? | 14 Yes | 2 No |
hi all I am new here, I would like to ask one question. when a company (MNC) is following more than one accounting principle then what are the areas we need to change in sap.
Explain have you ever prepared mis reports and what are these?
What is mean by Asset area?
my brother is out of country i have lost his bank passbook when i was going to bank for the entries is their essential to take duplicate pass book can my brother is present for this.
Tell me why some asset accounts have a credit balance?
what is the meaning of Accrual Concept?
6 Answers emc2, IHG InterContinental Hotels Group, Rivera Manpower Services,
what should by the journal entries for tds payble
how to make contra entry in sap fico.?
How much statistics knowledge is necessary or required in accounting?
What are the rules for debit and credit for different accounts to increase the amount in your business accounts?
what are the elements of the companay
You are a B.E Student? How can u manage Banking?
Audit 
