Managerial vs Financial Accounting

managerial Finance baron memorandum to:          Sally Jones from:      subject:    managerial V.S. Financial Accounting date:        8/22/2012   Hello Sally, As you invite previously worked at a fiscal block preparing and processing monetary statements and pecuniary journal entries, I am positive that you be detailed aw ar of how financial institutionalise works. However, since you have been hired on as a managerial accountants assistant, it occurred to me that you competency non be as aw ar of what a managerial accountant does. I would same(p) you to have the best chance at performing the functions required for your position. To do this, I feel that I should beg off to you some of the differences and similarities between managerial accounting and financial accounting as well as level you an example or rudimentary of what you should expect to have to do to create a managerial report. This memorandum is for this purpose. Financial Accounting As financial accounting has been your earth of expertise for a noteworthy amount of time now, you ar already aw are of what financial accounting does and is. However, in bring out of formulateing what managerial accounting is, I feel it necessary to explain financial accounting as well.

This is not because I toilet your knowledge in this flying field is in any information faulty precisely I feel it necessary to be thorough. The main goal of financial accounting is to prepare reports for removed sources such as stockholders, investors, or for tax purposes (Financial Accounting. (n.d.). There are a few variant financial accounting systems however the most common are Accrual and Cash methods (Financial Accounting. (n.d.). The expunge method recognizes revenue on a cash underfur coat only. This means that neither the revenue nor the expenses are acknowledge until afterward the cash is received. This is big for small businesses but is not very logical for volumed business. Large companies would be more than than promising to use the accretion method of accounting. The accrual method is recording...If you indispensableness to get a full essay, order it on our website: Ordercustompaper.com

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