Roles and Responsibilities of Financial and Managerial Accounting Managers

Essay specific features

 

Issue:

Business

 

Written by:

Gregory J

 

Date added:

December 11, 2010

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 374

 

Was viewed:

7113 times

 

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Essay content:

Management accounting produces information for the managers in a company to help fulfill organizational objectives. “Financial accounting produces reports for external parties such as stockholders, suppliers, banks, and government regulatory agencies,” (p.5) and must adhere to the standards set by the generally accepted accounting practices (GAAP)...
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However, a general purpose accounting system suits both needs. Managers need the answers to questions that help an organization to achieve their goals. Some examples of these questions would be whether the company is doing well or poorly (scorecard), attention directing questions that focus on comparing actual results to expectations, and problem-solving questions that target specific areas of the organization, and recommend a course of action...
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