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The difference between Financial Accounting and Management Accounting?

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Jun 10 at 16:28:5
Adnan
Adnan
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Financial accounting refers to aggregation of accounting information into financial statements while managerial accounting refers to internal processes used for business transactions in accounting. There are a number of differences between financial and managerial accounting:

Financial accounting reports on the results of an entire business while Managerial accounting almost always reports at a more detailed level / such as profits by product / product line / customer and geographic region.

Financial accounting reports on the profitability of a business whereas managerial accounting reports on specifically what is causing problems and how to fix them.
Jun 13 at 10:6:44
Ashiq
Ashiq
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