Differentiate between Financial Accounting and Management Accounting. Why do you think financial reports are subject to regulation, whereas management accounting reports are no
Differentiate between Financial Accounting and Management Accounting. Why do you think financial reports are subject to regulation, whereas management accounting reports are no
Differentiate between Financial Accounting and Management Accounting. Why do you think financial reports are subject to regulation, whereas management accounting reports are no
Differentiate between Financial Accounting and Management Accounting. Why do you think financial reports are subject to regulation, whereas management accounting reports are not?
Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.
Expert Solution
Step 1
Accounting may be :
1. Financial Accounting
2. Management Accounting
There is difference between both the accounting.
Financial accounting is required by the law but management accounting is not required by the law.
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