Posts Tagged financial accounting
Users of Accounting Information
Accounting plays a very important role in all businesses but it is not just the business itself that finds accounting information useful. There are other stake holders who rely on accounting information to make decisions. These stakeholders include:
Managerial Accounting Vs Financial Accounting
Have you ever wondered what the differences are between managerial and financial accounting? Well, throughout this article I will be contrasting the differences between the two. Accounting includes areas such as tax, audit, cost, and information systems. However, the only area in accounting that relates to this article is cost, because cost is a subset of managerial accounting. Some of the major differences between managerial and financial accounting include but aren’t limited to GAAP, internal/external reporting, internal/external focus, and unit focus. There are many other topics that I could use for this essay, however I feel like these certain topics help describe the difference the best.