ACC 202 Final Paper 1
Final Paper 1
ACC 202 Final Paper
ACC 202: Principles of Managerial Accounting
February 7, 2015
Final Paper 2
ACC 202 Final Paper
Management accounting is accounting which is used by administration of a company or organization to make decisions concerning day to day functions. Management accounting, also referred to as managerial accounting, is required for administrators to make smart decisions regarding the way the organization is performing. Managerial accounting demonstrates to administration where the company is performing nicely and where the company requires improvement. It is very important and might decide how successful a company is or is not. This assessment will provide a better knowledge of managerial accounting and what it is used for. Management accounting is for internal administration of a company in comparison with financial accounting, which is provided for external users for example shareholders, lenders as well as stockholders. Although financial accounting is for external use and managerial accounting is for internal use a few the exact same information will be used for both. Financial accounting is concerned with the company as a whole whereas managerial accounting concentrates on parts of a company for example divisions, which make the company tick, so to speak. One more difference, which should be noted is financial accounting information is needed and should abide by generally accepted accounting principles (GAAP) while being documented. Managerial accounting is not compulsory and does not have to abide by these standards when revealed to internal administration. Managerial accounting is not needed to follow exactly the same goal and established rule as financial accounting either. Administrators are searching for
Final Paper 3
ways to improve operations and eventually enhance income. This sort of accounting allows for flexibility like calculating sales volumes. Precision, which would need thorough
ACC 202 Final Paper
ACC 202: Principles of Managerial Accounting
February 7, 2015
Final Paper 2
ACC 202 Final Paper
Management accounting is accounting which is used by administration of a company or organization to make decisions concerning day to day functions. Management accounting, also referred to as managerial accounting, is required for administrators to make smart decisions regarding the way the organization is performing. Managerial accounting demonstrates to administration where the company is performing nicely and where the company requires improvement. It is very important and might decide how successful a company is or is not. This assessment will provide a better knowledge of managerial accounting and what it is used for. Management accounting is for internal administration of a company in comparison with financial accounting, which is provided for external users for example shareholders, lenders as well as stockholders. Although financial accounting is for external use and managerial accounting is for internal use a few the exact same information will be used for both. Financial accounting is concerned with the company as a whole whereas managerial accounting concentrates on parts of a company for example divisions, which make the company tick, so to speak. One more difference, which should be noted is financial accounting information is needed and should abide by generally accepted accounting principles (GAAP) while being documented. Managerial accounting is not compulsory and does not have to abide by these standards when revealed to internal administration. Managerial accounting is not needed to follow exactly the same goal and established rule as financial accounting either. Administrators are searching for
Final Paper 3
ways to improve operations and eventually enhance income. This sort of accounting allows for flexibility like calculating sales volumes. Precision, which would need thorough