Difference between Financial Accounting and Management Accounting
Account | Management Accounting
BBA | BBA-BI | BBM | BBS
Management Notes
Difference between Financial Accounting and Management Accounting
| Financial Accounting | Management Accounting |
| Financial Accounting helps to provide information to the people who are outside the organization like stockholders, creditors, etc. | Management Accounting helps to provide information to the people who are inside the organization like managers leading to proper direction and control of the activities. |
| Financial Accounting helps to summarize data for the whole organization and also emphasizes on precision and verifiability of data. | Management Accounting helps to summarize data for the segments of organization and also emphasizes on relevance and flexibility of data. |
| Financial Accounting mainly analyses the past data or past result and diagnoses the past activities. | Management Accounting is mainly concerned with the future and emphasizes on future plans and policies. |
| Financial Accounting is governed by GAAP (General Acceptable Accounting Principles) as the reports are made to the outsiders. | Management Accounting is not governed by GAAP(General Acceptable Accounting Principles) as the reports are made to the outsiders |
| Financial Accounting is necessary for the publicly held companies and by lenders. | Management Accounting is not necessary for the publicly held companies or by lenders. |
Similarly ,
You may also like:
(Founder of Management Notes)
MBA,BBA.
I am Smirti Bam, an enthusiastic edu blogger with a passion for sharing insights into the dynamic world of business and management through this website.
I hold a MBA degree from Presidential Business School, Kathmandu, and a BBA degree with a specialization in Finance from Apex College,
MBA,BBA.
I am Smirti Bam, an enthusiastic edu blogger with a passion for sharing insights into the dynamic world of business and management through this website.
I hold a MBA degree from Presidential Business School, Kathmandu, and a BBA degree with a specialization in Finance from Apex College,
Latest posts by Smirti (see all)
- As part of the consent process, the federal regulations require researchers to: - September 8, 2024
- Concept and Nature of Intellectual Property Rights – Explained in Detail | Business Law - January 30, 2024
- Management Information Systems Online Degree – Courses, Colleges, and Careers in MIS - January 16, 2024
I cannot thank you enough for the post.Really looking forward to read more. Cool.
After reading your blog post, I browsed your website a bit and noticed you aren’t ranking nearly as well in Google as you could be. I possess a handful of blogs myself, and I think you should take a look at “seowebsitetrafficnettools”, just google it. You’ll find it’s a very lovely SEO tool that can bring you a lot more visitors and improve your ranking. They have more than 30+ tools only 20$. Very cheap right? Keep up the quality posts