Managerial And Finanacial Accounting

Essay specific features

 

Issue:

Business

 

Written by:

Sharon M

 

Date added:

July 4, 2015

 

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Grade:

A

 

No of pages / words:

3 / 830

 

Was viewed:

9154 times

 

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Essay content:

Another key difference between the two types of accounting is frequency of preparation. In managerial accounting, reports can be created for any period of time (i.e. – daily, weekly, monthly). Financial reports are usually generated for a set period of time, such as fiscal year. Managerial accounting reports are prepared utilizing scientific and statistical methods to arrive at monetary values (Financial, 2007)...
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Managerial accounting reports are prepared utilizing scientific and statistical methods to arrive at monetary values (Financial, 2007). Examples of these reports include sales forecasting, budget analysis, and merger/consolidation reports. On the other hand, financial accounting focuses on the production of financial reports, including basic reporting on profitability (this is of specific interest to potential investors)...
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