financial and management accounting

FINANCIAL AND MANAGERIAL ACCOUNTING
Accounting is the backbone of the business pecuniary world and can fall into two major categories which be managerial and fiscal account. Managerial accounting and centering accounting is a process that identifies, measures, analyzes, interprets and communicates cultivation in pursuit of an makeup or company goals. Management accounting is excessively know as cost accounting. Managerial accounting provides top management with reports that are future-oriented. Financial accounting is comprised of information that companies present to the common public stockholders, creditors, customers, suppliers, and regulatory commissions. Team Bravo will also discuss the importance of fiscal accounting for an organization and what information is provided, as well as giving examples of the users in the managerial and financial accounting fields and how their decisions are made ground on this information.
Managerial accounting includes information such as cost of an organizations products and services; budgets; procedure reports and other(a) information that assist with control activities and planning.



Examples of this type information would be revenues of an organizations product and service, sales back logs, social unit quantities and demands on capacity resources. (2009) Managerial accounting deals with information that is non made public and usually can be contrasted with financial accounting, which is concerned with providing information to stockholders, creditors and others who are outside an organization (Garrison and Noreen, 1999).
On the other hand, the other type of accounting is financial accounting. In order to explain the purpose of financial accounting there must an understanding of what financial accounting is. So what is financial accounting? Financial accounting is the field of accounting that treats money as a means of measuring economic performance instead of (as in cost accounting) as a means of...If you want to get a full essay, order it on our website: Orderessay



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