Managerial Accounting
* A counseling news report system produces information that is apply within an organization, by managers and employees
* Management accounting helps management to record, plan and control activities and aids the decision making process.
* in that respect are no legal requirements for an organization to use management accounting.
* Management accounting can focus on specialised areas of an organizations activities. Information may aid a decision making rather than be an end harvest-tide of a decision.
* Management accounting information may be monetary or alternatively non-monetary.
* Management accounting provides two an historical record of the immediate past and a coming(prenominal) planning tool
* No time span for producing financial statements
* No strict rules g all overn the way in which management accounting operates. The management accounts and information are prepared in a format that is of use to managers
* Management accounting has no contract format. There are no specific statements which should be produced.
fiscal accounting
* A financial accounting system produces information that is used by parties external to the organization, such as shareholders, bank and creditors.
* financial accounting provides a record of the performance of an organization over a defined period and the state of affairs at the end of that period.
* Limited companies must, by law prepare financial accounts.
* fiscal accounting concentrates on the organization as a whole, aggregating revenues and costs from different operation. financial accounts are an end themselves
* or so financial accounting information is of a monetary nature.
* Financial accounting presents an essentially historical picture of past operation.
* Financial statements are...If you want to get a full essay, order it on our website: Ordercustompaper.com
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