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Septeos Septeos
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A year ago
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.
Textbook 
Business in Action

Business in Action


Edition: 9th
Authors:
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goodone14goodone14
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A year ago
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