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• How is the purpose of managerial accounting different from financial accounting?

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  • Post Date 2018-11-06T12:08:57+00:00
  • Post Category Essays

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• How is the purpose of managerial accounting different from financial accounting?

Discussion Managerial vs. Financial Accounting

INSTRUCTIONS:

Accounting, 2 pages, 4 references, Master program, APA style with the appropriate tables

• Please use original writing (No Plagerism)

• Please use American URLs than can be easily verified on the web in the reference page.

ACC501 Discussion

Let us explore the differences between financial and managerial accounting. Financial accounting is rule-oriented, since the information is used to communicate with third parties. Managerial accounting, on the other hand, is for internal use. Anything goes as long as the information is a valuable tool for decision-making purposes, and the benefit of the information exceeds the cost of accumulating and analyzing it. 

References: 

Accounting for Management. (n.d.). Difference Between Financial and Managerial Accounting.

Principlesofaccounting.com. (n.d.). Chapter 17 Multiple Choice Questions.

Required: 

Below is the question for discussion.

• How is the purpose of managerial accounting different from financial accounting?


CONTENT:

ACC501 MOD01 Discussion Managerial vs. Financial Accounting Name Courses Instructor Date Management and financial accounting have similarities, but the purpose of managerial accounting differs from financial accounting. Management accounting places more importance on the future through highlighting on relevant information for decision-making. On the other hand, financial accounting focuses on past information that represents a true and fair view about the financial position. As such, management accountants look into changes in economic conditions to facilitate planning and control to estimate what would happen as opposed to what has already

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