What are some of the key differences between financial and managerial accounting? How do these differences impact the type of information that must be gathered and reported? What are the different types of decisions that users of financial accounting information must make? What are the different types of decisions that users of managerial accounting information must make?
Financial accountants use financial statements and submit such quarterly and yearly for use primarily by external users. These reports pertain to the business as a whole, are condensed, and reported using the GAPP. Reports are subsequently audited by a CPA. Managerial accountants use internal reports primarily used for internal users and report such as often as needed. These reports pertain to subunits within the...
Excerpt from file: Whataresomeofthekeydifferencesbetweenfinancialandmanagerialaccounting? Howdothesedifferencesimpactthetypeofinformationthatmustbegatheredand reported?Whatarethedifferenttypesofdecisionsthatusersoffinancialaccounting informationmustmake?Whatarethedifferenttypesofdecisionsthatusersof
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