Financial and Managerial Accounting Differences
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Describe the difference between Financial and Managerial Accounting.
Identify the purpose of and several uses of Financial Accounting.
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Solution Summary
Your tutorial is 194 words and describes financial and managerial accounting and gives five uses for financial statements.
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Describe the difference between Financial and Managerial Accounting.
Financial accounting is the process of summarizing the transactions of the period and organizing them into standard rule-driven (GAAP) reports (income statement, balance sheet and cash flow statement).
Managerial accounting is the process of helping an organization to control, measure and ...
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