Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Management Accounting:
Management accounting on the other hand tends to focus internally. Reports generated through management accounting processes will be used by the organisation's management to assist in planning and control.
Rather than focusing on the past (as is the case with financial accounting), management accounting attempts to take information from the past and projects it into the future. The primary management accounting report is the budget, and reports analysing actual results against budgeted targets.Management accounting uses historical data to assist in establishing financial objectives, and allows managers to make rational management decisions to achieve those objectives.
Management accounting reports usually provide great detail and cover much shorter periods of time (sometimes weekly). This allows managers to act quickly and decisively if required.
The major differences between financial and management accounting can be summarised as follows:
Financial Accounting
Management Accounting
Information for external users
General purpose
Long time periods (FY)
Reports on the past
Required by law
Subject to accounting standards
Focuses on objective data
Used primarily by internal users
Usually focused on specific purpose
Short periods (monthly, weekly)
Past and future
Not required by law
Not compelled to meet standards
Can utilise subjective data
Q. Definition of Capital Budgeting? Capital Budgeting is the procedure of making decisions for investment in long-term assets. It is a method of deciding whether or not to inve
Do you believe an increased common stock cash dividend can send a signal to the common stockholders? If so, what signal might it send? An enhance in cash dividends is often se
The treasury auction cycle constitutes weekly auctions in case of 3-month and 6-month bills and auction for every fourth week in case of yearly bills. These are f
Which currency has to be used in an international acquisition in order to calculate the flows? It can be completed in the local currency or in the currency of the parent compan
Question 1 Write short notes on following- Explain any five important functions of accounting What is Book-Keeping? Explain features of book-keeping Question 2 Ex
1. List the common elements of a submission for a major resource acquisition (purchase) 2. What is the difference between: A fixed asset and current asset? 3. If you worked i
Explain the distinction in the translation process among the monetary/nonmonetary method and the temporal method. Answer: Within the monetary or nonmonetary method, every mone
Determine the Significance of gearing on shareholders Significance of gearing on shareholders is financial risk for anun-geared and geared company. It means that there is a gre
Who owns a credit union? Explain. Credit unions are owned by their members. When credit union members place money in their credit union, they aren't technically "depositing"
what is financial management?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd