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Title: Which of the following is a key difference between financial accounting and management accounting? Post by: Septeos on May 1, 2022 Which of the following is a key difference between financial accounting and management accounting?
▸ Financial accounting is concerned with preparing cost analysis, whereas management accounting is concerned with creating reports. ▸ Financial accounting considers such aspects as profitability, whereas management accounting does not consider profitability. ▸ Financial accounting creates information for outsiders, whereas management accounting is for insiders. ▸ Management accounting is based on historical data, whereas financial accounting is based on real time data. ▸ Accounting knowledge creates information for all stakeholders, whereas management knowledge is used for internal purposes only. Title: Which of the following is a key difference between financial accounting and management accounting? Post by: goodone14 on May 1, 2022 Content hidden
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