Answer / danielrobert

Financial Accounting is mainly concerned with record keeping aspect aiming to prepare the financial statements. It just records the data on historical basis (i.e. what has happened).
It does not give much emphasis to providing information to the management for decision making.
Management Accounting, on the other hand, is concerned with providing necessary information to the management to assist them in decision making. It combines the aspects of both Financial Accounting (i.e. what has actually been spent or earned) and Cost Accounting (i.e. what is expected to be spent or earned)

I hope the answer will answer your query!

Answer / babuprasad kunchepa

Financial accounting is providing information & performance of a firm to parties outside organization,
whereas Managerial accounting information is aimed at helping managers within the organization make decisions.

what is basic general accounting.

0 Answers   Genpact, Helios Pharmaceuticals,

---

What will be a entry for TDS deducted on Salaries, Directors Remuneration and Rent.

1 Answers  

---

What is fiduciary accounting?

0 Answers  

---

My company has taken a car Full payment car cheq throw after loan from ICICI Bank, Assume . Plz pass the entry umesh

3 Answers  

---

Why in KE5Z report in SAP Accounting Data not found?

0 Answers  

---

how to enter the tender refund amount in tally ?

0 Answers  

---

Do you know compound journal entry?

0 Answers  

---

If ABC security service provider monthly bill for the month of Jan is Rs.2,00,000/- including TDS 2% and Service Tax 12%, Edu.Cess 2% and SHE Cess 1% what is the journal entry.

3 Answers   ABC,

---

what are the types of option contract?

1 Answers  

---

what question ask in aptara for technical test questions?

2 Answers   Aptara,

---

reconcilation

15 Answers   Accenture, Genpact,

---

Can we consider capital work in progress as a part of fixed assets?

2 Answers  

---