Explore BrainMass

Managerial vs financial accounting; which has more functions

1. How is the purpose of managerial accounting different from financial accounting?
2.. Are more accountants involved in the financial or managerial functions today?
Please, provide factual information (not merely opinions) backed up by details or examples.

Solution Preview

Management accounting has a wider job description! Just looking at the advertisements for management accountants (France, 2010), you can see a wide range of skills and jobs (See Figure 1). In fact, if you look at the Figure 1, you will see "financial accounting" as one of the jobs of the management accountant. Yes, they prepare financial reports but they do much more. Financial accountants are dedicated to just that financial reporting aspect.

The purpose of financial accounting is to report the results of operations and the economic resources and changes ...

Solution Summary

Your tutorial is 352 words plus three references.