Contrast financial accounting to managerial accounting
Not what you're looking for?
Why does financial accounting have to comply with GAAP but managerial doesn't?
What types of decisions can be made using financial accounting information?
What types of decisions can be made using managerial accounting?
Purchase this Solution
Solution Summary
Contrast financial accounting (GAAP) to managerial accounting
Solution Preview
Financial accounting has to comply with GAAP because it is not only used internally, but externally as well, by shareholders, investors, general public, analyst, etc. Managerial accounting is used for internal purposes in order to take critical business decisions and thus, need not comply with GAAP.
Financial accounting information provides key insights to the status of the organization, as on a particular data and measures the performance of the organization over a period. Tools such as ratio analysis, which is compiled using financial accounting information, provides key insight on ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
Recent Feedback
- "Thank you. "
- "Thank you"
- "Thank you. I got 20/20 last week for my discussion you help me out with."
- "Thank you. Great Job. "
- "Thank you. Great Job. "
Purchase this Solution
Free BrainMass Quizzes
Basics of corporate finance
These questions will test you on your knowledge of finance.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.