Interested to Buy Any Domain ? << Click Here >> for more details...
What is the difference between financial accounting and
management accounting?
- 2 Answers
- 4819 Views
- I also Faced
- E-Mail Answers
Answer Posted / danielrobert
Financial Accounting is mainly concerned with record keeping aspect aiming to prepare the financial statements. It just records the data on historical basis (i.e. what has happened).
It does not give much emphasis to providing information to the management for decision making.
Management Accounting, on the other hand, is concerned with providing necessary information to the management to assist them in decision making. It combines the aspects of both Financial Accounting (i.e. what has actually been spent or earned) and Cost Accounting (i.e. what is expected to be spent or earned)
I hope the answer will answer your query!
| Is This Answer Correct ? | 7 Yes | 2 No |
Post New Answer View All Answers
which report give the data of GL with materials details in sap?
"A" has two divisions of "B" and "c".In our system we have two vendor accounts of B&C.We have received one Non PO invoice of B and posted wrongly in C and its got paid.While reconciling the account we got this error is happend.We contacted the C and asked for refund.But C said,he transfer internally the amount directly to B and he will not refund the amount.How we will settle this entry in our books. If we reverse the entry...there is one invoice needs to be reverse and payment doc needs to be reverse..how we can settle this in our books...
Tell me what is project implementation?
How do we calculate the cost of investment?
Explain dual aspect term in accounting?
WHAT IS NPF IN ACCOUNTS. AN ENTRY IN BANK STATEMENT" NPF SOME NAME XXXX DR SIDE" PLEASE ANSWER WHAT IS NPF?
What are the most important goals of accounts receivable?
If there is an excess amt of TDS paid under the head TDS on contractor, then how it can be shown in Annexure of TDS return?
What are source documents in accounting?
accounting principles, accounting concepts,meaning of managment and financial accounting and cost accounting.
Do you know marginal cost?
what is the entry of credit card received excess amount entry in tally and their under group names
Was there a time when you lost the chance to engage a prospect? What happened and what did you learn?
what is share application money pending allotment?
how can we get a leaverage in intraday market if are not a professional acount holder?
