•How is managerial accounting different from financial accounting?
•Comment on the different needs and use of financial information for internal purposes.
•The managerial accounting profession and its role in today’s business environment. How has it changed over time?
•Comment on the Certified Management Accountant (CMA) designation.
Introduction To Managerial Accounting
Length: 3 pages (970 Words)
INTRODUCTION TO MANAGERIAL ACCOUNTING.
Financial and management accounting are very important tools for a business, but they are all of different purposes in a business setup. Financial accounting focus on financial statements given to those involved in a company financial dealings such as stakeholders. Managerial accounting focuses on providing information, which is used by management for effective company management. They all have different audiences such as investors are not involved in daily management of business but are concerned in protecting their investments, whereas managers always need all piece of information to make daily decisions.
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